|Bid||49.10 x 4000|
|Ask||49.15 x 3100|
|Day's Range||48.53 - 49.42|
|52 Week Range||43.34 - 54.75|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||12.14|
|Earnings Date||Apr 13, 2020|
|Forward Dividend & Yield||2.04 (4.14%)|
|Ex-Dividend Date||Nov 05, 2019|
|1y Target Est||51.17|
The U.S. Federal Reserve on Friday signaled it would take a lighter touch when supervising banks, in another win for the industry which has long complained that the regulator's closed-door supervisory process is opaque and capricious. In particular, foreign lenders Deutsche Bank, Credit Suisse, UBS and Barclays should no longer be held to the same supervisory standard as big U.S. banks after shrinking their combined U.S. assets by more than 50% over the past decade, said Fed governor Randal Quarles. "We have been giving significant thought to the composition of our supervisory portfolios and, in particular, to whether and how we should address the significant decrease in size and risk profile of the foreign firms," Quarles, who is also vice chair for Fed supervision, told a Washington conference.
In a week in which BlackRock swore off coal stocks, attention is growing on companies that meet so-called environmental, social and governance criteria.
Investor sentiment mixed on banks' Q4 earnings, with the major players displaying top-line strength aided by higher fee income and loan growth, partly muted by margin pressure and elevated expenses.
Wells Fargo & Company (NYSE: WFC) announced today a $250,000 USD donation to the American Red Cross from the Wells Fargo Foundation in response to the recent wildfires that continue to have a devastating impact on Australia and its residents. The donation is earmarked for the American Red Cross’s sister entity, the Australian Red Cross Disaster Relief Fund, which is one of the key lead organizations leading the relief effort.
Banking giant Wells Fargo has been mired in regulatory issues, though earnings growth has picked up. Is Wells Fargo stock a buy right now?
Zacks Earnings Trends Highlights: JPMorgan, Wells Fargo, Bank of America, Citigroup and Goldman Sachs
Plans are in the works to move Wells Fargo's prominent downtown Denver branch from its spot on Broadway. Currently located at 1740 Broadway, the Wells Fargo (NYSE: WFC) branch is one of a handful of bank locations in the downtown area. "With 79 bank branch locations in metro Denver and the variety of ways we interact with customers — including in branches, online services, phone banks, etc. — we no longer need such a large downtown bank branch like our current one," Steve Carlson, Wells Fargo corporate communications vice president, told Denver Business Journal.
Wells Fargo stock (ticker: WFC) dropped 5% after it reported on Tuesday and is trading down another 2.2% on Wednesday. The bank is still under a Federal Reserve-mandated balance-sheet cap, and while previous management regimes tried to be sanguine about the bank’s prospects in Washington, Scharf was upfront about how long a path lies ahead. The length of that path is why Piper Sandler’s R. Scott Siefers downgraded the stock from Overweight to Neutral, saying in a note to clients Wednesday morning that the bank’s “earnings miss and, more importantly, a lack of visibility on improvement” merit caution.
Goldman Sachs (GS) Q4 results reflect dismal financial advisory and corporate lending business, and high expenses and provisions, partly muted by fixed income and underwriting revenue outperformance.
Improved capital markets performance and strong loan growth support BofA's (BAC) Q4 earnings, while lower interest rates act as an undermining factor.
Goldman Sachs posted mixed earnings results on Wednesday, as the firm’s deal-making and bond trading weren’t enough to offset a drop in investment banking revenue.
CreditCards.com is out with a new breakdown that matches how Americans spend according to labor statistics data, with some cards offering nice rewards bonuses. Yahoo Finance's Zack Guzman and Brian Cheung break it down with Netflix Co-founder and former CEO Marc Randolph.
Morhan Stanley reported fiscal fourth-quarter earnings that beat on the top and bottom lines. The bank's investment management division posted $1.36 billion in revenue, nearly 100% growth from a year ago. Yahoo Finance’s Brian Cheung joins Seana Smith on The Ticker to discuss.
Mike Tiedemann, Tiedemann Advisors CEO, joins Yahoo Finance with his take on the markets. He talks with Julie Hyman, Adam Shapiro, Andy Serwer and Oliver Pursche of Bruderman Asset Management.