|Bid||0.00 x 800|
|Ask||0.00 x 4000|
|Day's Range||45.62 - 46.75|
|52 Week Range||43.02 - 59.53|
|Beta (3Y Monthly)||1.23|
|PE Ratio (TTM)||10.10|
|Earnings Date||Jul 16, 2019|
|Forward Dividend & Yield||1.80 (3.90%)|
|1y Target Est||52.00|
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.
70+ oil & gas industry management teams will discuss 2019-2020 operations at EnerCom's 24th Denver energy investment conference DENVER , June 19, 2019 /PRNewswire/ -- EnerCom has released the presentation ...
Bank of America is putting billions more toward helping homebuyers afford closing costs nationally, including in this region.
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.
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.
Wells Fargo & Company (WFC), NeighborWorks® America and Neighborhood Housing Services (NHS) of Baltimore today announced the NeighborhoodLIFT® program will expand for Baltimore with a $6 million commitment by Wells Fargo to boost local homeownership. The 2019 Baltimore NeighborhoodLIFT program follows the 2012 CityLIFT program for Baltimore that included a $5.8 million investment from Wells Fargo and created 386 homeowners.
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 email@example.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's (C) restructuring and streamlining efforts, along with its strategic investments in core business, should bode well for the long term.
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 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.
(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 firstname.lastname@example.orgTo contact the editors responsible for this story: Scott Lanman at email@example.com, Jeff KearnsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wells Fargo Investment Institute (WFII) today released its “2019 Midyear Outlook Eyes Forward: Opportunities and Challenges.” The report makes the case that the current 10-year economic expansion is not over and that all avenues for investors to consider will require careful assessment. “The theme we adopted at the beginning of 2019, ‘the end of easy,’ still resonates,” said Darrell Cronk, president of WFII and chief investment officer of Wealth and Investment Management at Wells Fargo.
(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 firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, Samuel Potter, Jeremy HerronFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Several Bay Area banks are likely to unveil expansion plans soon as Wells Fargo releases business banking talent as part of a restructuring.
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...
Wells Fargo said these changes were intended to create more efficient operations with less risk involved.
This year's top lenders have shifted around compared to last year's as the fiscal year enters the fourth quarter.
Destiny USA, owned by Pyramid Cos., issued bonds backed by payments in lieu of taxes by the developer in 2007 to expand its Carousel Center mall into a super-regional shopping and entertainment complex. A 19-screen move theater, go-kart raceway and a comedy club haven’t been enough to stem the pressure from online shopping and the sluggish upstate New York economy.
Today, Wells Fargo & Company named Debra Chrapaty as chief technology officer, making permanent a role she held on an interim basis since May. She will continue reporting directly to Saul Van Beurden, head of Technology at Wells Fargo.
Unfortunately for investors, a 3% haircut in advisory fees and fund expenses—a level that’s all too common—makes a huge difference in how fast your wealth grows. If you add up all of the fees in your portfolio, it may reveal a “silent killer” that can devastate your account balances over your working career or a lengthy retirement. For example, let’s say your financial adviser or 401(k) plan provider charges an annual fee of 1% of assets under management.