|Bid||0.00 x 4000|
|Ask||0.00 x 800|
|Day's Range||57.67 - 58.26|
|52 Week Range||49.27 - 66.31|
|PE Ratio (TTM)||14.78|
|Earnings Date||Oct 12, 2018|
|Forward Dividend & Yield||1.72 (2.92%)|
|1y Target Est||62.02|
One of Wells Fargo & Co.’s top risk management executives is leaving the bank months after it was slapped with an unprecedented enforcement action from the Federal Reserve. Chief Operational Risk Officer Mark D’Arcy is leaving Wells Fargo to “pursue opportunities outside of the company” and his last day is Aug. 21, according to an internal memo described to The Wall Street Journal that was sent to bank employees this month. Mr. D’Arcy, who joined Wells Fargo in February 2017, will be succeeded by Mark Weintraub, who was Wells Fargo’s head of audit for consumer banking.
By Jennifer Ablan and Trevor Hunnicutt NEW YORK (Reuters) - Soros Fund Management LLC added Facebook Inc (FB.O), Apple Inc (AAPL.O) and Twitter Inc (TWTR.N), but trimmed stakes in Alphabet Inc (GOOGL.O) ...
Warren Buffett's Berkshire Hathaway increased its stake in Apple and Goldman Sachs, according to a regulatory filing Tuesday that discloses positions through the end of the second quarter.
Readings in early August were 91% percent negative, reports Bloomberg, versus a high of 74% in the wake of the unauthorized account scandal. “Rebuilding trust with our team members, customers, communities, shareholders, and regulators remains our top priority,” Wells Fargo spokesman Peter Gilchrist said in an e-mail to Bloomberg.
Wall Street stocks advanced and the S&P 500 was on track for its best day in three weeks on Tuesday as a rebound in the Turkish lira eased contagion fears and a string of healthy earnings boosted investor optimism. Gains were widespread as the S&P 500 and the Dow Jones Industrial Average looked set to end their four-day losing streaks. The Turkish lira recovered some ground after plunging to an all-time low on Monday as the country's central bank took steps to ease pressure on the currency.
Barry Rosenstein's hedge fund says it also has increased its holdings in Apple, which it has already pressured about iPhone addiction.
Wells Fargo (WFC) plans to enter student loan refinancing market to build relationships with the youth as this might help it lessen the impact of legal involvements.
Wells Fargo (WFC) announced it has committed the capital in construction debt, as well as the tax-equity funding of $35 million for the new solar generation facility, known as FL Solar 5 in Orange County, Florida. This solar facility will include half a million solar panels and will also reduce greenhouse gas emissions by more than 57,000 tons per year. Origis Energy USA, a Miami-based solar energy company that delivers custom clean energy solutions for utility, commercial, and public-sector clients, developed the solar project and is providing the balance of the project’s capital as well as acting as the solar power plant’s engineering, procurement and construction provider.
The bank faces ever-climbing negative consumer sentiment, with readings in early August at 91 percent negative, said Mark Bachman, head of M Science’s “TickerTags,” a web-based analytics platform. The firm used proprietary algorithms to measure the percentage of positive versus negative mentions on Twitter, excluding re-tweets and links, he said in an email to Bloomberg. “Conversations on Twitter may include direct references to news sources, but we purposely excluded mentions where people are only re-tweeting or commenting on news article links,” Bachman says.
The San Francisco-based firm would offer loans to let customers retire their government-backed student debt, John Rasmussen, the bank’s head of personal lending, said in an interview. Wells Fargo would keep the loans as it already does with private student debt. “We continue to assess the needs of our customers on refinancing of federal loans into private,” Rasmussen said.
Wells Fargo & Co. investors who were learning to live with an unprecedented penalty the Federal Reserve imposed for bad behavior will have their patience tested again as details emerge on another scandal. Late Friday, Bloomberg Opinion columnist Stephen Gandel reported that the Justice Department is looking into whether Wells Fargo and other banks colluded with developers on bids for the tax credits.
As much as Wells Fargo & Co. wants the public to believe it has put its troubled past behind it, yet another legal tangle shows it still doesn’t have a handle on its own questionable behavior. In the latest turn of events, the Department of Justice has started an investigation into whether Wells Fargo colluded with developers to submit low-ball bids on tax credits that support low-income housing projects, according to people close to the matter who were not authorized to discuss it publicly. The probe started in Miami but has now been referred to the corruption unit of the Department of Justice, which is looking into deals involving Wells Fargo nationwide, one of these people said. The U.S. Attorney’s office in Miami convened a grand jury recently to look into the accusations against Wells Fargo, according to one of the people close to the investigation.
Meanwhile, it was a busy week in wealth management news. Charlie Johnston, the former CEO of Smith Barney and president of Morgan Stanley Smith Barney, joined the board of $10-billion-AUM Steward Partners Global Advisory. The Washington, D.C.-based independent hybrid firm is largely made up of Smith Barney veterans, noted one of them, Steward CEO Jim Gold.
MARKET PULSE The financial sector was the hardest hit of the S&P 500's 11 key sectors, as banks stocks were weighed down by a sharp drop in longer-term Treasury yields. The SPDR Financial Select Sector ETF (xlf) dropped 1.
As bottom line numbers go, it’s hard to beat Berkshire Hathaway’s (NYSE:BRK.A, NYSE:BRK.B) $12 billion second-quarter profit, announced Aug. 4. Investors have generally liked the results, pushing BRK.B stock higher in the two days of trading since. Most people view Berkshire Hathaway’s increasing cash hoard — it stood at $111 billion at the end of June, the largest cash balance in its history — like a noose around its neck, threatening the company’s growth and the future appreciation of BRK.B stock. Unfortunately, despite the Oracle of Omaha (Warren Buffett) loosening the company’s share repurchase requirements in July, it doesn’t look as though he’s got much of an appetite for anything at current valuations including BRK.B stock.
Court documents give some insight into one of the biggest questions about Theranos: How could its board stand pat as key employees left and allegations emerged about the blood testing company's technology?
Businesses looking to borrow money right now generally are finding a favorable reception from lenders, according to Wells Fargo & Co.’s top commercial banker in Tampa. “Borrowers are able to get attractive spreads and structures in the market and there's enough business to go around for everyone to be successful,” Themides said during an interview in his downtown Tampa office. Themides oversees a team of 26 commercial bankers who work with middle-market customers — companies with annual revenue of $25 million on up — along the Gulf Coast, from Citrus County to Naples.
Wells Fargo & Company (WFC), NeighborWorks® America and its network member, Neighborhood Housing Services of Chicago, today announced the NeighborhoodLIFT® program will expand to the Chicago area with an $8 million commitment by Wells Fargo to boost homeownership in Cook County.
Among key drivers in rising Index score: More business owners report positive financial situation
The big bank had an error in a mortgage-modification software program that caused over 600 customers to be denied a modification, and many of those people later lost their homes.