WFC - Wells Fargo & Company
54.20 +0.41 (0.76%)
Pre-Market: 7:17AM EST
| Previous Close | 54.36 |
| Open | 54.05 |
| Bid | 0.00 x 4000 |
| Ask | 54.90 x 3200 |
| Day's Range | 53.43 - 54.42 |
| 52 Week Range | 43.02 - 54.75 |
| Volume | 19,179,788 |
| Avg. Volume | 19,517,176 |
| Market Cap | 227B |
| Beta (5Y Monthly) | 1.12 |
| PE Ratio (TTM) | 11.57 |
| EPS (TTM) | 4.65 |
| Earnings Date | Jan 14, 2020 |
| Forward Dividend & Yield | 2.04 (3.75%) |
| Ex-Dividend Date | 2019-11-07 |
| 1y Target Est | 51.32 |
- Investopedia
No Worries
Investors remain bullish despite shrugging off trade war news, while insider investing moves contain low-value information.
- Insider Monkey
A Much Better Dividend Stock Than These Dividend Darlings
Dividend investors usually focus on companies that have a long track record of increasing their dividends year after year. The companies with at least 25 years of consecutive dividend increases are especially favored by income oriented investors. This is actually not a bad idea as long as these companies continue to increase dividends. However, when […]
- Barrons.com
Wells Fargo Tweaks Advisor Pay on Smaller Accounts
The wirehouse keeps its cash compensation plan largely unchanged but reduces cash payouts for revenue from smaller households.
- Moody's
Mansard Mortgages 2006-1 PLC -- Moody's: No rating impact on Mansard Mortgages 2006-1 PLC following the replacement of the Calculation and Reporting Agent
Moody's Investors Service ("Moody's") has been requested to assess the impact on the ratings of the Notes issued by Mansard Mortgages 2006-1 PLC, following the replacement of WELLS FARGO TRUST CORPORATION LIMITED as Calculation and Reporting Agent with U.S. BANK GLOBAL CORPORATE TRUST LIMITED on the 6th December 2019. All rights reserved.
- Yahoo Finance
Fed 'prepared to adjust' balance sheet to prevent repo market flare-up
Fed Chairman Jerome Powell said Wednesday that the Fed could "adjust the details" of its balance sheet policies and repo operations to prevent another flare-up in money markets.
- Benzinga
Wells Fargo Advisors Kicks Off Free Self-Directed Stock, ETF Trades
Wells Fargo & Co (NYSE: WFC ) announced the adoption of zero-cost trades on its WellsTrade self-directed trading platform on Monday. This development follows Bank of America Corp's (NYSE: BAC ) announcement ...
- Barrons.com
There’s More Bad News for the Worst Stock in the Dow This Year
The worst-performing stock in the Dow Jones Industrial Average this year just got some more bad news. Walgreens stock (ticker: WBA) was down 0.7% in morning trading. Wells Fargo Securities Peter Costa stressed that the change was due to a shift in how the firm considers its ratings, not a change in how he sees the fundamentals of the business.
- Investing.com
Stockbeat: Micron Shrugs Off Growth Concerns From Wells Fargo
Investing.com – Chipmaker Micron (NASDAQ:MU) rose on Wednesday, shrugging off concerns from Wells Fargo (NYSE:WFC) analysts that memory pricing headwinds would hurt growth.
- American City Business Journals
Exclusive: Jay Paul in talks with Wells Fargo to buy key building in downtown San Jose
Jay Paul Co. is negotiating with the owners of a Wells Fargo branch in downtown San Jose to purchase the building so it can incorporate it into its CityView Plaza redevelopment project, sources say.
- InvestorPlace
Ignore the Honeymoon Hike: Wells Fargo Stock Has Already Peaked
Wells Fargo (NYSE:WFC) stock has risen over 25% since its August lows. In late September, Wells Fargo announced it had hired a new CEO. And it's safe to say that WFC stock has been on a sort of honeymoon hike since then. But for many investors, questions remain about its difficult fundamentals and relative valuation.Source: Martina Badini / Shutterstock.com The market seems to believe that new CEO Charles Scharf can turn things around at Wells Fargo. He was poached from BNY Mellon (NYSE:BNY) where he was CEO. Scharf also served as the CEO of Visa (NYSE:V) and was a protege of Jamie Dimon, the CEO of JPMorgan Chase (NYSE:JPM). Fortune Magazine wrote a glowing article about his expertise in running financial institutions.But the truth is Scharf hasn't really tackled a company with as many scandals as Wells Fargo. Most of his jobs have been with fairly well-established financial institutions.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWells Fargo has had to deal with numerous scandals over the past decade. Fortune pointed out that these include a fake-accounts scandal, questionable mortgage and auto-lending practice and red flags in its foreign exchange and wealth management businesses. Wells Fargo's Fundamental IssuesA Raymond James analyst recently cut his rating on WFC stock to "underperform," noting that he believes that with the company, "it will get worse before it gets better." In Wall Street speak, that is the equivalent of a "sell" rating. * 10 Best-Performing Growth Stocks of the 2010s Source: Chart by Mark R. Hake The analyst, David Long, said he expects revenue to contract for a fourth straight year in 2020. He also believes that Wells Fargo's profitability in a number of areas will lag its competitors.Moreover, he said that both JPM stock and Bank of America (NYSE:BAC) stock are cheaper than Wells Fargo stock.I looked into these points. Based on estimates provided by Seeking Alpha, 14 analysts expect revenue of just $80 billion (after loan loss provisions) for 2020. This is 7% below the company's $85 billion in 2017.Analysts all predict positive revenue gains for WFC's major competitors. This can be seen in the table to the right. The average cumulative revenue growth over the same four years is 15%, against WFC's expected 7% drop.Source: Chart by Mark R. Hake As interest rates keep falling it's very hard to make revenue rise. Wells Fargo has to become a more attractive place for people to borrow and deposit their money. It will have to erase its damaged image in order for revenue to rise. A Problematic ValuationWells Fargo stock is more expensive than the average of its peers. The table below shows that the average forward price-to-earnings ratio for its competitors is 11 times. This is lower than Wells Fargo's 12.6.Source: Chart by Mark R. Hake Some point out that Wells Fargo has a higher dividend yield than its peers. I looked into this as well. It is true that Wells Fargo's 3.8% dividend yield is higher than its peers. JPM stock has a 2.7% dividend yield, and BAC's yield is 2.2%.But Wells Fargo has a higher dividend payout ratio. It distributes 40% of its earnings, according to Yahoo! Finance. Its peers pay out less of their earnings. Their dividend yields would be closer to Wells Fargo's dividend yield at the same payout ratio.Others point out that Wells Fargo has a robust share buyback policy. That is true. Wells Fargo's capital plan, approved in June by the Federal Reserve, calls for buying back up to $23 billion worth of its shares. That represents about 10% of its market value. Obviously that accounts for a huge portion of the spike in the Wells Fargo stock price since then.But JPMorgan also got approval for a huge share buyback. Its approved plan is for up to $29.4 billion in share repurchases. Although that is a larger program than at Wells Fargo, it represents a lower 6.9% of JPM's stock market value.Wells Fargo is more aggressive with buybacks, but JPM stock is cheaper. I would rather take the cheaper stock. The Bottom Line on WFC StockWarren Buffett recently trimmed the Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) stake in Wells Fargo stock. Berkshire Hathaway was Wells Fargo's largest shareholder in March when it owned 451.4 million shares or 9.9% of the bank, according to the proxy statement.But now Berkshire only owns 378.4 million shares. That is a reduction of 73 million shares or 16%, in half a year. I believe Buffett thinks it is overvalued.Wells Fargo has not bought back 16% of its shares since March. For example, Berkshire would normally have to trim its stake to stay below 9.9% of the bank's shares outstanding. Otherwise, it would need to get approval to be a bank holding company, according to federal regulations.By my calculations, Berkshire Hathaway's stake in Wells Fargo is now about 9%. This is despite the 5.9% lower number of shares outstanding at Wells Fargo since March. In other words, Buffett has sold into the Wells Fargo share repurchase program.That should tell you a lot. Wells Fargo was the fourth-largest holding at Berkshire Hathaway. Maybe it isn't as important to Buffett anymore.Maybe you should sell too.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. Mark Hake runs the Total Yield Value Guide which you can review here. The Guide focuses on high total yield value stocks. Subscribers get a two-week free trial. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best-Performing Growth Stocks of the 2010s * 10 Stocks With Little or No Debt to Own for the Next 50 Years * 5 Restaurant Stocks Dominating Holiday Season Foot Traffic The post Ignore the Honeymoon Hike: Wells Fargo Stock Has Already Peaked appeared first on InvestorPlace.
- Yahoo Finance
Why Wells Fargo’s Mike Mayo is ‘banking on tech’
When it comes to investing in bank stocks, a flattening yield curve, Fed rate cuts and illiquid capital markets are typically considered red flags that send investors running for the hills.
- Barrons.com
Merrill Edge, Wells Fargo Embrace Zero Commissions
Bank of America expands commission-free trading to all self-directed Merrill Edge investors, while Wells Fargo’s online brokerage scraps commissions.
- Zacks
Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Wells Fargo (WFC) closed at $53.92, marking a -0.83% move from the previous day.
- American City Business Journals
Why First Republic Bank sold a unit that helps employers repay their workers’ student loans
Despite the sale, First Republic Bank still sees plenty of growth in its business of refinancing student loans.
- Barrons.com
The Time to Buy Home Depot Stock Is Now, Analysts Say
The company’s coming conference for analysts and investors could be an opportunity for the stock to rise, Wells Fargo says.
- Zacks
BB&T-SunTrust Merge to Form 6th Biggest Bank Truist Financial
Truist Financial, the sixth largest bank in the country, is likely to give significant competition of other big banks.
- American City Business Journals
Wells Fargo leaders on relocation, future in Birmingham and more
Wells Fargo & Co.'s name was recently removed from Birmingham’s tallest building as the bank relocates to 1901 Sixth Avenue, formerly Regions Harbert Plaza. Leigh Collier, Wells Fargo (NYSE: WFC) Central Alabama region bank president, said the shift of the banking model to more digital-based banking has allowed the bank branch to reduce space – going from 7,000 square feet to 2,500 square feet. The BBJ recently sat down with leaders in the bank’s Birmingham office to talk about its plans for the coming year following its move.
- Investopedia
Top 5 Positions in Warren Buffett's Portfolio
Warren Buffett is undeniably the most closely watched, highest-profile investor in modern history. Not surprisingly, investors relentlessly clamor to match his success by analyzing his portfolio, hoping to absorb even a tiny morsel of Buffett's investment genius. Despite his unparalleled success, Buffett's investment model has always been transparent, straightforward, and consistent.
- Moody's
Provident Funding Mortgage Trust 2019-1 -- Moody's assigns definitive ratings to Prime RMBS issued by Provident Funding Mortgage Trust 2019-1
Moody's Investors Service ("Moody's") has assigned definitive ratings to 18 classes of residential mortgage-backed securities (RMBS) issued by Provident Funding Mortgage Trust 2019-1 (Provident 2019-1). Provident 2019-1 is the first transaction entirely backed by loans originated by the sponsor, Provident Funding Associates, L.P. (Provident Funding). Provident 2019-1, a common law trust formed under the laws of the State of New York, is a securitization of agency-eligible mortgage loans originated and serviced by Provident Funding, a California limited partnership (corporate family rating B1; senior unsecured B2) and will be the first transaction for which Provident Funding is the sole originator and servicer.
- Zacks
Major Regional Bank Stocks Outlook Rosy on Decent Loan Rise
Major Regional Bank Stocks Outlook Rosy on Decent Loan Rise
- Reuters
UPDATE 1-Banking regulator rebuked Wells Fargo's HR department -WSJ
A top U.S. banking regulator has rebuked Wells Fargo & Co's human resources department for what it called the bank's backlog of employee complaints and compensation structures, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. In a July letter, the Office of the Comptroller of the Currency laid out a lengthy to-do list for the bank's HR department, the WSJ reported. The regulator asked the bank, among other things to address issues regarding thousands of employee complaints, an inadequate policy for clawing back compensation from executives and poor controls around pay, according to the report.
- Business Wire
Wells Fargo Investment Institute Releases ‘2020 Outlook: A Call for Resilience’
“While this year was largely characterized by a tug-of-war between substantial geopolitical drags and offsetting global monetary policy easing, ironically all equity asset classes, and even several fixed income asset classes, have delivered double-digit returns, despite these concerns,” said Darrell Cronk, president of WFII and chief investment officer of Wells Fargo Wealth & Investment Management. Credit spreads (fixed income) must remain well-behaved.
- Reuters
UPDATE 2-Wells Fargo adds more external bankers to top ranks
Wells Fargo & Co said on Monday Scott Powell will become chief operating officer, the second external recruit to join the top ranks since Chief Executive Charles Scharf took over six weeks ago. Powell, who worked with Scharf at Bank One and then JPMorgan Chase & Co, most recently was chief executive officer of Santander Holdings USA Inc, as well as of Santander Consumer USA Holdings Inc.
