|Bid||26.14 x 1000|
|Ask||26.15 x 900|
|Day's Range||26.11 - 26.17|
|52 Week Range||24.49 - 26.44|
|Beta (3Y Monthly)||0.08|
|PE Ratio (TTM)||5.79|
|Forward Dividend & Yield||1.50 (5.76%)|
|1y Target Est||N/A|
Following mixed earnings results from the big banks, investors face a conundrum: embrace the promise of beating estimates at the risk of slower growth?
For the quarter, revenues declined slightly to $21.6 billion, with a 1% increase in net interest income from a higher net interest margin (NIM) offset by a 4% decline in noninterest income. Warning! GuruFocus has detected 3 Warning Signs with WFC.
Will Citigroup’s Bull Run Continue?(Continued from Prior Part)CitigroupAnalysts have a consensus target price of $79.20 per share on Citigroup (C), which implies a potential upside of 12.6% based on its closing price of $70.35 on April 17.
The Bay Area’s 20 highest-earning women executives hail from the Bay Area's top tech companies as well as its retail and financial giants. Several companies — Square, Cisco and Williams-Sonoma — have multiple executives in our top 20 list.
Ally Financial Inc.'s retail division is growing rapidly — increasing total deposits by 16% year over year in the first quarter and adding about 120,000 customers.
Explore three reasons to hold cash positions in investment portfolios, including the advantages of liquidity in falling markets and safe haven solutions.
Wells Fargo awards Hope Enterprise Corporation a $2.8 million grant to expand access to capital for entrepreneurs.
Will Citigroup’s Bull Run Continue?Stellar stock performance So far in 2019, Citigroup (C) stock has outperformed its peers and broader markets. Citigroup stock has risen 35.1% on a YTD (year-to-date) basis as of April 17. The stock has risen
Why Bank of America’s Q1 Results Didn't Lift Its Stock(Continued from Prior Part)Bank of AmericaMost of the analysts providing recommendations on Bank of America (BAC) recommended a “buy.” Bank of America will likely post higher net interest
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the network that banks and other financial institutions use for transferring information securely. Most major financial institutions use SWIFT, as it is considered the gold standard for reliable and secure financial messaging. Originally founded in the 1970s, SWIFT was created when banks around the world decided to collaborate to solve the problem of cross-border payments.
Boeing wins a $14.3 billion defense deal, airlines extend 737 Max groundings, and Wells Fargo economists measure the impact of Boeing's production halt on the U.S. economy. Boeing news under the radar.
Wells Fargo: Multiple Analysts Downgraded the Stock(Continued from Prior Part)YTD stock performance So far, Wells Fargo (WFC) shares have underperformed its peers and the broader markets in 2019. Wells Fargo stock has risen 1.5% on a YTD
Analysts at several firms, including Goldman Sachs, Evercore ISI, and Buckingham Research, all downgraded Wells Fargo following the company’s underwhelming first-quarter earnings report issued Friday.
The bank repurchased $4.06 billion in shares in the first quarter and returned $1.08 billion to shareholders through dividends.
Firms cutting their rating on Wells Fargo stock to neutral include Goldman, BofAML and Buckingham. Wells Fargo is “likely to remain ‘dead money’ and lag peers until there’s greater clarity around revenue inflecting,” Buckingham’s James Mitchell wrote in a note. BofAML’s downgrade to neutral comes as Wells Fargo’s “revenue base keeps eroding,” analyst Erika Najarian wrote in a note.
Financial giants J.P. Morgan JPM and Wells Fargo WFC kicked off earnings season on Friday, both issuing better-than-expected results. "J.P. Morgan has set an unbelievable tone," Quint Tatro, managing director of Joule Financial, said Friday. "I think we're going to see that from more of the consumer-focused banks, but I don't think that they're going to reach nearly the levels that J.P. Morgan did.
Longtime Raleigh bank executive Jack Clayton is back – this time at Virginia-based TowneBank, which bought Paragon Commercial in 2017. Clayton, who retired as regional president of Wells Fargo in 2017 after a 40-year career, has been named president of business strategies for the bank's North Carolina operation, as well as vice chairman of the bank’s Raleigh advisory board. Retired Paragon CEO Bob Hatley said Clayton will “become part of the team.” “He’s really going to help us as Towne continues to expand its footprint,” he said.
JPMorgan now generates $2 billion more in revenue from its consumer banking unit than its rival, after trailing Wells Fargo by almost $1 billion just two years ago. Jamie Dimon’s New York firm has also grabbed the lead on loans and profit from that business. Almost three years of public relations struggles and regulatory scrutiny are taking a toll on Wells Fargo, which has about 450 more branches.
Bank of America recently announced it would raise the minimum wage it pays its workers, but don’t expect JPMorgan Chase - the nation’s largest bank - to follow suit any time soon.
JPMorgan stock and Wells Fargo stock were mixed after beating Q1 views, as JPMorgan was upbeat on U.S. growth while Wells Fargo guided low.
Executives at Wells Fargo & Co. struck a different tone when discussing the first-quarter earnings results released on Friday.
Wells Fargo & Co shares fell as much as 3 percent on Friday after the bank dialled back its net interest income outlook for this year and reported a decline in total quarterly revenue. The Federal Reserve has signalled it is unlikely to raise interest rates in 2019 given risks to the U.S. economy from a global slowdown, which investors have feared could pressure net interest income, or the difference between what a bank earns on loans and pays on deposits. The lowered outlook comes at a time of uncertainty for the fourth-largest U.S. lender following the abrupt departure of former Chief Executive Tim Sloan last month.