WFC - Wells Fargo & Company

NYSE - NYSE Delayed Price. Currency in USD
53.69
-0.23 (-0.43%)
At close: 4:02PM EST
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Previous Close53.92
Open53.49
Bid0.00 x 2900
Ask54.31 x 4000
Day's Range53.38 - 53.87
52 Week Range43.02 - 54.75
Volume14,925,615
Avg. Volume19,728,196
Market Cap227B
Beta (3Y Monthly)1.12
PE Ratio (TTM)11.55
EPS (TTM)4.65
Earnings DateJan 14, 2020
Forward Dividend & Yield2.04 (3.78%)
Ex-Dividend Date2019-11-07
1y Target Est51.32
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    Wells Fargo leaders on relocation, future in Birmingham and more

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  • Reuters

    UPDATE 1-Banking regulator rebuked Wells Fargo's HR department -WSJ

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    UPDATE 2-Wells Fargo adds more external bankers to top ranks

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    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. Starting Dec. 9, Powell will focus on Wells Fargo's relationships with regulators, which have been strained since the bank became tangled in a wide-ranging sales practices scandal in 2016. The San Francisco-based bank is currently operating under more than a dozen regulatory consent orders, including an unprecedented growth restriction on its balance sheet from the Federal Reserve until the bank proves it has fixed its risk controls.

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    Wells Fargo & Company (WFC) today announced that Scott Powell has been named chief operating officer effective Dec. 9, 2019. Powell most recently was CEO of Santander Holdings USA, Inc. as well as CEO of Santander Consumer USA Holdings Inc., a publicly traded consumer finance company focused on vehicle finance and third-party servicing. “I have known Scott for many years, and his tremendous experience, proven track record and unquestioned integrity will make him a great addition to our management team,” Scharf said.

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    Shares of Wells Fargo & Co. fell 0.2% in premarket trading Monday, after Raymond James analyst David Long returned to being bearish on the bank, citing expectations of weak earnings and a fourth-straight year of revenue declines next year. Long cut his rating to underperform from market perform. He had upgraded Wells Fargo market perform in March, after being bearish for 2 1/2 years. Long expects revenue to fall 6.8% in 2020, the steepest decline among Wells' peers, and projects loan growth of a peer-worst 0.5%. He also expects profitability metrics, which have been on a consistent downtrend since 2013 despite an improving economy, to "deteriorate further" in 2020, and remain below the peer average through at least 2021. "Stigma around Wells' account scandal still lingers, as anecdotal evidence suggests the bank continues to lose customers and revenue-producing bankers, and struggles to recruit quality talent," Long wrote in a note to clients. "Additionally, we expect [net interest margin] pressure to remain intense as lower [shorter-term] rates pressure its asset yields, while deposit costs have little room to come down." The stock has climbed 18.2% year to date through Friday, while the SPDR Financial Select Sector ETF has rallied 26.6% and the S&P 500 has climbed 25.3%.