WFC - Wells Fargo & Company

NYSE - Nasdaq Real Time Price. Currency in USD
45.88
-0.26 (-0.57%)
As of 2:23PM EDT. Market open.
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Previous Close46.14
Open46.21
Bid45.86 x 900
Ask45.87 x 4000
Day's Range45.82 - 46.28
52 Week Range43.02 - 59.53
Volume9,053,899
Avg. Volume21,805,653
Market Cap206.178B
Beta (3Y Monthly)1.23
PE Ratio (TTM)10.15
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.80 (3.90%)
Ex-Dividend Date2019-05-09
1y Target EstN/A
Trade prices are not sourced from all markets
  • Online Brokers Down on Disappointing Near-Term Prospects
    Zacks6 hours ago

    Online Brokers Down on Disappointing Near-Term Prospects

    Prospects of online brokers - Schwab (SCHW), TD Ameritrade (AMTD) and E*TRADE (ETFC) - look dismal due to a number of factors that are weighing on investors' sentiments.

  • Division of $23.8 billion Phoenix bank opens 1st Colorado office
    American City Business Journals22 hours ago

    Division of $23.8 billion Phoenix bank opens 1st Colorado office

    Bridge Bank, a division of Western Alliance Bank, has opened a new office in Denver. Founded in 2001, the San Jose, California-based Bridge Bank division offers financial services to small to mid-market businesses, technology companies and private equity firms and has eight existing offices throughout the country. The exact location of the new Denver office was not immediately disclosed.  Western Alliance Bank, which is the main subsidiary of bank holding company Western Alliance Bancorporation (NYSE: WAL), had more than $23.8 billion in assets as of March 31 and had 39 bank branches in California, Arizona and Nevada as of March 31, according to FDIC data.

  • Mechanics Bank revamps leadership after deal tripling bank’s size
    American City Business Journals2 days ago

    Mechanics Bank revamps leadership after deal tripling bank’s size

    Walnut Creek-based Mechanics Bank and Rabobank said Monday that it will create a co-CEO leadership structure and a new office of the chairman when the two banks complete a $2.1 billion combination that’s tripling the size of Mechanics Bank. Mechanics Bank (OTCBB: MCHB) President and CEO John DeCero and Roseville-based Rabobank N.A. CEO Mark Borrecco will become co-CEOs of the combined bank, which is expected to have about $18 billion in assets when the deal closes in August or September. Mechanics is buying Rabobank’s retail, business banking, commercial real estate, mortgage and wealth management businesses in California.

  • Philadelphia's largest deposit takers pass latest round of Fed's stress tests
    American City Business Journals2 days ago

    Philadelphia's largest deposit takers pass latest round of Fed's stress tests

    The nation’s largest 18 banks, including most of Philadelphia’s biggest deposit takers, have passed the first round of annual stress testing, proving to the Federal Reserve that they had enough capital to withstand a severe and prolonged economic downturn. The Fed set up a “severely adverse” scenario to test the banks. The hypothetical scenario projects $410 billion in total losses for the 18 participating banks amid a global recession with the U.S. unemployment rate rising by more than 6 percentage points to 10 percent, accompanied by an 8% drop in real gross domestic product, a large decline in real estate prices and elevated stress in corporate loan markets.

  • How BofA, Wells Fargo performed in this year's stress testing
    American City Business Journals2 days ago

    How BofA, Wells Fargo performed in this year's stress testing

    The Federal Reserve set up a "severely adverse" scenario to test 18 of the largest U.S. banks. That scenario included a global recession with the U.S. unemployment rate jumping to 10%.

  • GuruFocus.com2 days ago

    3 High Forward Dividend Yield Stocks

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  • 18 Participating Banks Emerge Triumphant in Stress Test 2019
    Zacks2 days ago

    18 Participating Banks Emerge Triumphant in Stress Test 2019

    The Federal Reserve releases the Dodd-Frank Act supervisory stress test 2019 (DFAST 2019) results which reflect the stability of the banking system.

  • Investing.com3 days ago

    Economic Calendar - Top 5 Things to Watch This Week

    Investing.com - Market watchers will be looking ahead to a meeting between U.S. President Donald Trump and China's President Xi Jinping this week amid hopes for a thaw in trade relations, even if it alters expectations for Federal Reserve rate cuts.

  • Financial Jobs Aren’t Just in New York
    Bloomberg4 days ago

    Financial Jobs Aren’t Just in New York

    (Bloomberg Opinion) -- There were 755,436 people working in financial activities in the New York metropolitan area last year, more than twice as many as in the next-biggest area for such jobs, metro Los Angeles. But this amounted to just 8% of New York-area jobs. There are other metropolitan areas where finance makes up a much larger share of employment than that.What the location quotient numbers in the above chart mean, basically, is that in Bloomington, you’re almost four times as likely to encounter people who work in finance as in the country as a whole, and more than 2 1/2 times as likely to encounter them as in the nation’s financial capital. Which makes sense, given that the small Illinois city (2018 metro area population: 188,597) is the home base of insurance giant State Farm; Country Financial, another large insurance and financial group, is also headquartered there. A whopping 22% of the area’s jobs are in financial activities (nationwide, the percentage is 5.6%).Related: Where Microbrewery Jobs Are OverflowingBig insurers explain a lot about these rankings: There’s Principal Financial Group Inc. in Des Moines (along with 80 other insurance and financial services companies); the Hartford Financial Services Group Inc., Cigna Corp. and Aetna (since late last year a subsidiary of CVS Health Corp.) in and around Hartford; Mutual of Omaha in Omaha; USAA in San Antonio. In Sioux Falls, the specialty is credit cards — Citibank famously moved its card operations to the city in 1981 to take advantage of new South Dakota laws that allowed it to charge higher interest rates, and both Citibank and Wells Fargo are now officially based there (their parent companies, Citigroup Inc. and Wells Fargo & Co., are not). The Phoenix, Jacksonville, Omaha, Tampa, San Antonio, Salt Lake City and Dallas areas also all house big financial-services back-office operations. Bridgeport-Stamford-Norwalk — aka Fairfield County, Connecticut — has insurance and investment banking but also a lot of hedge funds, which helps explain why it has the nation’s highest financial-sector average annual wage, at $244,083.Just to round things out, Dubuque has the headquarters of Heartland Financial USA Inc., which owns community banks in 12 states; a Prudential Retirement call center; and a couple of local financial institutions. Birmingham is home to two sizable regional banks, Regions Financial Corp. and Banco Bilbao Vizcaya Argentaria SA subsidiary BBVA Compass. Oh, and New York has some financial institutions, too.Financial activities as defined by the Bureau of Labor Statistics include real estate and rental and leasing, which doesn’t entirely square with what most of us think of as finance. But when I narrowed things down to finance and insurance, Des Moines and Sioux Falls disappeared from the statistics, as the BLS often suppresses local data “to protect the identity, or identifiable information, of cooperating employers.” And I hated the idea of leaving out Des Moines and Sioux Falls, as anyone would.Still, it’s worth redoing the above exercise with a couple of narrower categories that accord better with the notion of high finance. Here are the 10 metropolitan areas with the highest employment location quotients for investment banking and securities dealing:OK, Durham-Chapel Hill was a bit of a surprise at the top of this list; the main explanation seems to be that Credit Suisse Group NA’s Raleigh campus, the firm’s second-largest office in the Americas, is not in Raleigh but in nearby Durham County. Still, the location quotients for metro New York and neighboring Fairfield County stand out, too, and in absolute terms there are seven times as many investment banking jobs in the New York area as in No. 2 metro Chicago. In other words, the commanding heights of investment banking in the U.S. are mostly where everybody thinks they are — although the pay is highest in the San Francisco area, where the investment bankers who take tech companies public tend to work.Finally, here’s the top 10 for portfolio management:It’s obviously no shock to see Bridgeport-Stamford-Norwalk in the top spot, although that location quotient really is something. Santa Fe, the U.S. metropolitan area with the most-altitudinous central city, at 7,199 feet (2,194 meters), is a little less obvious. The most famous hedge fund in town (Prediction Company, started in 1991 by a couple of physicists affiliated with the Santa Fe Institute) shut down last year, but a number of other money managers and private equity funds are located there, presumably because their founders like mountain air and art. The Virginia college town of Charlottesville exerts a similar if damper appeal; my Bloomberg Opinion colleague Joe Nocera wrote about the doings of a hedge fund kingpin there in March.There’s a clear wage divide on this list between places where money managers cluster, driving average pay above $300,000 a year, and those where the great majority of jobs are in administration, customer service and the like, such as metro Philadelphia, home to the largest mutual fund complex, Vanguard Group Inc. The Terre Haute metropolitan area clearly fits in the latter category,  although it’s not clear where those 147 portfolio management employees work. Terre Haute-based First Financial Corp. is the area’s biggest financial services employer by far, but it’s chiefly a banking company.The point here, other than just taking advantage of the fun data that the BLS releases every three months from the Quarterly Census of Employment and Wages, is that while the standard picture of a U.S. financial sector concentrated in and around New York isn’t all wrong, there are other places around the U.S. that depend even more on financial services jobs to pay the bills.Coming Sunday: A booming local health-care industry isn’t always a good thing.To contact the author of this story: Justin Fox at justinfox@bloomberg.netTo contact the editor responsible for this story: Brooke Sample at bsample1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Largest U.S. banks clear first round of 'stress tests,' fewer banks tested
    Yahoo Finance5 days ago

    Largest U.S. banks clear first round of 'stress tests,' fewer banks tested

    The Fed released the first round of stress tests for this year, showing that banks have cleaned up their balance sheets. But regulatory changes meant fewer banks were tested this year.

  • West Sacramento approves homebuyer assistance program
    American City Business Journals6 days ago

    West Sacramento approves homebuyer assistance program

    The program is set to help West Sacramento residents who earn the area median income, or less, afford a down payment for a home.

  • Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
    Zacks7 days ago

    Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, Wells Fargo (WFC) closed at $45.65, marking a -0.98% move from the previous day.

  • City leaders want to make it easier to buy a home in West Sacramento
    American City Business Journals7 days ago

    City leaders want to make it easier to buy a home in West Sacramento

    The city of West Sacramento is considering a new program to spur homeownership in parts of the city. West Sacramento's City Council is set to weigh in on a proposal Wednesday to launch a program that would provide financial assistance to help prospective homebuyers afford a down payment. The funds would be used to supplement an ongoing a grant program in the region called NeighborhoodLIFT, according to the city.

  • Bank of America to offer $5B in new homebuyer grants
    American City Business Journals8 days ago

    Bank of America to offer $5B in new homebuyer grants

    Bank of America is putting billions more toward helping homebuyers afford closing costs nationally, including in this region.

  • Reuters8 days ago

    UPDATE 1-Wells Fargo parent is dismissed from lawsuit by Philadelphia, Baltimore

    Wells Fargo & Co was dismissed as a defendant in a lawsuit brought by the cities of Philadelphia and Baltimore, which accused large banks of conspiring to inflate interest rates for variable-rate demand obligations (VRDO), a type of tax-exempt bond. Other Wells Fargo entities remain defendants. Goldman Sachs Group Inc and JPMorgan Chase & Co were previously dismissed from the case, though affiliates of those banks remain defendants, according to court records.

  • Reuters8 days ago

    Wells Fargo is dismissed from municipal bond lawsuit by Philadelphia, Baltimore

    Wells Fargo & Co was dismissed as a defendant in a lawsuit by the cities of Philadelphia and Baltimore, which accused large banks of conspiring to inflate interest rates for variable-rate demand obligations, a type of tax-exempt bond. The dismissal came after Wells Fargo represented that it did not remarket, provide letters of credit for, or manage money market funds that invested in the bonds, according to a Tuesday filing in Manhattan federal court. JPMorgan Chase & Co and Fifth Third Bancorp were previously dismissed as defendants.

  • Markit8 days ago

    See what the IHS Markit Score report has to say about Wells Fargo & Co.

    Wells Fargo & Co NYSE:WFCView full report here! Summary * Perception of the company's creditworthiness is neutral * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for WFC with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting WFC. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding WFC are favorable, with net inflows of $9.77 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. WFC credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

  • Citigroup Announces Restructuring of Sales and Trading Unit
    Zacks8 days ago

    Citigroup Announces Restructuring of Sales and Trading Unit

    Citigroup's (C) restructuring and streamlining efforts, along with its strategic investments in core business, should bode well for the long term.

  • The Berkshire Hathaway Portfolio: All 48 Buffett Stocks
    Kiplinger9 days ago

    The Berkshire Hathaway Portfolio: All 48 Buffett Stocks

    When folks think of the Berkshire Hathaway (BRK.B) portfolio and its collection of holdings, most of which were selected by Chairman and CEO Warren Buffett, the companies that most readily come to mind are probably American Express (AXP), Coca-Cola (KO) and, more recently, Apple (AAPL).But a deep dive into Berkshire Hathaway's equity holdings reveals a more complicated picture.Berkshire Hathaway held positions in 48 separate stocks as of March 31, according to regulatory filings with the Securities and Exchange Commission. But the portfolio of "Buffett stocks" isn't as diversified as the number might suggest. In some cases, BRK.B holds more than one share class in the same company. Some holdings are so small as to be immaterial leftovers from earlier bets the Oracle of Omaha has yet to completely exit.And perhaps most importantly, Berkshire Hathaway's equity portfolio is actually pretty concentrated. The top six holdings account for almost 70% of the portfolio's total value. The top 10 positions comprise nearly 80%. Banks and airlines, to cite a couple of sectors, carry quite a load in this portfolio. Then there's the fact that several Buffett stocks actually were picked by portfolio managers Todd Combs and Ted Weschler.Here, we examine each and every holding to give investors a better understanding of the entire Berkshire Hathaway portfolio. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019

  • Wells Fargo, Bank of America bringing down payment assistance programs to Baltimore
    American City Business Journals9 days ago

    Wells Fargo, Bank of America bringing down payment assistance programs to Baltimore

    Wells Fargo and Bank of America, two of the largest banks in Greater Baltimore, will provide millions for down payment assistance grants to low- and moderate-income homebuyers.

  • U.S. Homebuilder Sentiment Unexpectedly Posts First Drop in 2019
    Bloomberg9 days ago

    U.S. Homebuilder Sentiment Unexpectedly Posts First Drop in 2019

    (Bloomberg) -- Sentiment among U.S. homebuilders unexpectedly posted the first decline this year, suggesting lower mortgage rates are failing to give the housing market a sustained boost amid property prices that remain out of reach for many buyers.The National Association of Home Builders/Wells Fargo Housing Market Index fell two points to 64 in June, according to a report Monday that was below all estimates in a Bloomberg survey predicting a gain. All three components declined, with sales expectations hitting a four-month low. Readings above 50 indicate more builders view conditions as good than poor.Key InsightsHomebuilders cited rising costs for development and construction, along with concern over trade issues and labor shortages, according to the report. The figures contrast with some signs that the housing market is picking up, as a gauge of mortgage applications jumped earlier this month by the most in four years, while new-home construction advanced in March and April.The report follows a record decline Monday in the New York Fed’s Empire State factory index, suggesting some parts of the economy are heading to a weak finish in the second quarter. Reports out Friday showed solid retail sales and manufacturing output in May, indicating growth is uneven as Federal Reserve policy makers prepare to discuss interest rates at a meeting this week. Investors expect the central bank to lower borrowing costs in July.Official’s View“Despite lower mortgage rates, home prices remain somewhat high relative to incomes, which is particularly challenging for entry-level buyers,” NAHB Chief Economist Robert Dietz said in a statement. “Builders continue to grapple with excessive regulations, a shortage of lots and lack of skilled labor that are hurting affordability and depressing supply.”Get MoreThe index declined in the Northeast and West while rising in the Midwest to the highest since October. It was unchanged in the South.Economists in a Bloomberg survey had projected the main housing sentiment index would rise from 66 to 67.The Washington-based trade association represents more than 140,000 members in areas ranging from building and remodeling to housing finance.\--With assistance from Jordan Yadoo.To contact the reporter on this story: Ryan Haar in Washington at rhaar3@bloomberg.netTo contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Jeff KearnsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Stock Investors Are Getting Smarter as the Threats Stack Up
    Bloomberg9 days ago

    Stock Investors Are Getting Smarter as the Threats Stack Up

    (Bloomberg) -- This year’s global stock rally has flown in the face of billions of dollars of outflows, mounting fears for economic growth, and most recently a bombardment of geopolitical shocks.But it might not be as defiant -- or as crazy -- as it seems.As a gauge of global shares looks to extend two weeks of gains, there’s mounting evidence that beneath the surface equity investors have been getting smart. Far from ignoring brewing risks, they’re increasingly positioned for bad news, bidding up defensive and quality companies at the expense of those more exposed to the economic cycle.It all challenges the narrative that the stock markets have paid no heed to the warnings screamed by global bonds, or that they are simply counting on accommodative central bankers to juice asset prices.“People are bracing for a bear market,” said Brian Jacobsen, a senior investment strategist of multi-asset solutions at Wells Fargo Asset Management, which oversees $476 billion. “Not predicting it. Just trying to be prepared.”As traders favor firms that can weather a potential downturn, the valuation discount of value to growth stocks has surged to the widest since 2001. The Goldman Sachs Group Inc. gauge of high quality shares is outperforming the S&P 500 Index this month. And the Russell 2000 Index of small caps is trading near the biggest discount versus the Russell 3000 Index since at least 2006.The extremity of this push into safer equities has seen the likes of Morgan Stanley warn about a “big unwind’’ if their performance stumbles. Riskier shares attempted a comeback last month, with weak balance sheet stocks in the U.S. outperforming peers with strong balance sheets.But the trend didn’t last. In June, investors are once again rewarding companies flush with cash and low debt, lifting their premium over those with less attractive financial profiles to near a record high.“Valuations don’t matter too much until they get to eye-watering extremes,” said Jacobsen. “I don’t think that they’re at eye-watering extremes” for defensive shares, he said.Momentum stocks have been another winner from the search for a place to hide, with the investing style outperforming value shares by a near-record 17% in May. They have continued beating cheaper stocks this month due to a strong overlap with quality and low-volatility equities, according to Morgan Stanley.At essence, stock investors appear to be trying to hedge their bets between two major outcomes. On the one hand, they’re staying invested on the prospect of an extension of the business and economic cycle, perhaps prolonged by a trade war breakthrough or central bank largess. On the other, they’re opting for safe shares in case the U.S.-China protectionist battle drags out or escalates, derailing global growth.“The correct positioning is not obvious and it’s a tough call,” said Edward J. Perkin, chief equity investment officer at Eaton Vance Management. “With the equity market near all-time highs, do you take economic risk by owning cyclicals, or valuation and interest rate risk by buying defensive sectors at high prices?”Perkin favors a middle ground: He likes companies with solid financials, though he’s focused on economically sensitive sectors that can outperform if growth remains strong. And he cautions that not all defensive sectors are attractive, warning against expensive yield-sensitive sectors and consumer staples due to their financial leverage and muted revenue growth.Meanwhile major asset managers like Wells Fargo Asset Management and Legal & General Investment Management say they now prefer a neutral stance, allowing them to easily maneuver depending on whether the U.S. strikes a trade deal with China or global growth falters.One thing the money managers all agree on: Despite seeing a need for caution, they’re not yet ready to call the end of this bull market.“It still may be too early to call the peak,” said Nick Alonso, director of the multi-asset group at PanAgora Asset Management. “I believe that, especially in uncertain times like these, focusing on portfolio construction as a means of achieving diversification through proper risk balancing can be a very powerful tool.”\--With assistance from Justina Lee.To contact the reporter on this story: Ksenia Galouchko in London at kgalouchko1@bloomberg.netTo contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, Samuel Potter, Jeremy HerronFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Will others follow Bay Area bank tapping talent at Wells Fargo for expansion?
    American City Business Journals12 days ago

    Will others follow Bay Area bank tapping talent at Wells Fargo for expansion?

    Several Bay Area banks are likely to unveil expansion plans soon as Wells Fargo releases business banking talent as part of a restructuring.

  • Largest U.S. banks clear first round of stress tests
    Yahoo Finance Video5 days ago

    Largest U.S. banks clear first round of stress tests

    U.S. banks clear first hurdle of Federal Reserve’s annual stress test. Brian Cheung joins the Final Round to discuss the implications and what’s next for the big banks.