|Bid||0.00 x 29200|
|Ask||0.00 x 2900|
|Day's Range||53.78 - 55.04|
|52 Week Range||49.27 - 66.31|
|PE Ratio (TTM)||13.38|
|Earnings Date||Jul 13, 2018|
|Forward Dividend & Yield||1.56 (2.84%)|
|1y Target Est||60.87|
Charlotte's two most prominent banks passed the Federal Reserve's first round of 2018 Dodd-Frank Act stress tests this week.
Moody's Investors Service (Moody's) has assigned a (P)A2 provisional senior unsecured program rating to Wells Fargo Finance LLC. Wells Fargo Finance LLC is a finance subsidiary of Wells Fargo & Company. Wells Fargo & Company is rated A2 for senior unsecured debt with a negative outlook. Wells Fargo & Company has provided a guarantee for notes issued by Wells Fargo Finance LLC. The (P)A2 provisional rating reflects the credit profile of Wells Fargo & Company, the rating agency said, because the guarantee is consistent with Moody's principles for credit substitution (Rating Transactions Based on the Credit Substitution Approach: Letter of Credit-backed, Insured and Guaranteed Debts, May 25, 2017).
U.S. District Judge William Orrick in San Francisco ruled that the plaintiff Christopher Laver was bound by an agreement to arbitrate employment-related disputes, and could not pursue his proposed class action on behalf of roughly 200 brokers. The judge also said any arbitration details should be worked out in New York, where Credit Suisse thought the case belonged. A lawyer for Laver did not immediately respond to requests for comment.
A federal judge on Thursday dismissed a lawsuit accusing Credit Suisse Group AG of withholding up to $300 million of compensation from U.S.-based brokers when it closed their private banking unit in 2015. U.S. District Judge William Orrick in San Francisco ruled that the plaintiff Christopher Laver was bound by an agreement to arbitrate employment-related disputes, and could not pursue his proposed class action on behalf of roughly 200 brokers. The judge also said any arbitration details should be worked out in New York, where Credit Suisse thought the case belonged.
If this year’s bank stress tests were graded on curve, Wells Fargo & Co. would be at the bottom. For the second consecutive year, all of the banks examined were able to survive the Federal Reserve’s hypothetical worst-case economic scenario, according to results of the first round released on Thursday. Next week, the Fed will examine the banks’ own capital plans and approve or reject their proposed dividends and buybacks.
Wells Fargo & Company (WFC) today released the results of its company-run stress test conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA). The Federal Reserve Board has published the results of its supervisory-run DFA stress tests for the nation’s largest banks, including Wells Fargo, using the Dodd-Frank Capital Actions1 distribution requirements. Wells Fargo’s estimates may differ from the Federal Reserve Board’s estimates.
Wells Fargo President and Chief Executive Officer Tim Sloan speaks with Bloomberg's Carol Massar at the Bloomberg Breakaway CEO Summit in New York. (Source: Bloomberg)
Declining Treasury yields are chasing investors from some exchange traded funds tracking financial services stocks, including the iShares U.S. Financial Services ETF (IYG) . The $1.87 billion IYG recently turned 18 years old and tracks the Dow Jones U.S. Financial Services Index. Earlier this year, financials were also propped up by a rise in bond yields as higher interest rates typically widen the margin spread between bank loans and deposits.
Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. Wells Fargo & Company (NYSE:WFC) has returned to shareholders overRead More...
Wells Fargo & Co.’s CEO Tim Sloan said last month in a Bloomberg interview that he was worried about commercial real estate. What Sloan didn’t make clear, as has been the case with the bank’s numerous recent scandals, was just how big the problem is at his own bank. Worse, it appears, at least so far, to have a surprisingly large percentage of the growing bad loans in commercial real estate.
Wells Fargo and Company today announced more than 50 grants awarded to nonprofits across the U.S. to promote housing equality for low- to middle-income households in recognition of the 50th anniversary of the Fair Housing Act.
Angel Buchanan, South Central Florida region bank president at Wells Fargo, shares about her new role, what’s ahead for the bank in Central Florida and more.
Gerard Cassidy, head of bank equity research at RBC Capital Markets, and Catherine Mann, global chief economist at Citi Research, discuss expectations for the latest round of the Federal Reserve's bank ...
Kirk Hartman, global chief investment officer of Wells Fargo Asset Management, talks about his investment strategy for emerging markets. He also discusses the dollar's strength as he speaks with Ramy Inocencio ...
American Airlines Group was late in returning a pair of aircraft 45 and 49 days late, Wells Fargo alleges in a lawsuit filed Monday.
At a time when the economy is doing well and interest rates are rising, about half of the banks labeled as systemically important by the financial stability board are trading down in a bear market year-to-date (YTD), noted CNBC in a segment preceding Thursday's banking stress test results. According to analyst Dick Bove of Hilton Capital Management, focusing on the largest six banks is a failure to see the bigger picture and gain on high-flying mid-cap financial stocks.
Wells Fargo is eyeing a restructuring of its wealth management business, The Wall Street Journal reports. The plan is to combine the business’s Wealth Brokerage Services (around 3,400 brokers who work out of retail bank branches) and Private Client Group (around 9,500 brokers who work out of Wells’ brokerage offices), people familiar with the matter tell the Journal. Some sources also told the Journal that Wells is considering reducing around 1,000 jobs through attrition.
Wells Fargo (WFC) takes another step toward its impressive cost-cutting target by restructuring the company's wealth and investment management segment.
Stock movements reflect premarket trading. asking his administration to identify a new list of $200 billion in Chinese goods that would be penalized with tariffs, a move that could affect multinational industrial firms like Boeing. Apple Inc.—Down 1.8%: The New York Times reported that the Trump administration has promised not to place tariffs on iPhones, which are manufactured in China.
“Our wealth and investment-management group is reimagining our business to become more efficient,” spokeswoman Shea Leordeanu said in an emailed statement. The San Francisco-based lender may trim about 1,000 jobs through attrition and cut 100 regional managers, the Wall Street Journal reported late Monday citing sources it didn’t identify. Wealth-management head Jon Weiss said at the firm’s investor day last month that the unit is targeting around $600 million in savings by 2020.
Here’s what’s happening on Tuesday in the cryptocurrency world. These are the top stories on cryptocurrencies for June 19, 2018. Major cryptocurrencies – Bitcoin, Ethereum, Ripple, and Bitcoin Cash – delivered a solid performance over the past 24 hours, with the cryptocurrency market adding $12 billion. Investors are happy with the increase in the volume […] The post BTC, ETH, XRP Are Up: Cryptocurrency Daily Roundup: June 19 appeared first on Market Exclusive.