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Zacks News
San Francisco-based – Wells Fargo & Company is one of the largest financial services company in the U.S. with $1.95 trillion in assets and more than $1.4 trillion in deposits. The company provides banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage services and consumer and commercial finance through over 7,200 stores, 13,000 ATMs, the internet and other distribution channels across North America and globally. The company provides its services through three broad segments: Community Banking offers a complete line of diversified financial products and services to consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student, and small business lending. Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. Wealth and Investment Management provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses.
FSB Issues the 2020 G-SIB List: Are Banks Less Risky Now?
by Nikita Kataruka
JPMorgan (JPM) slipped to join Citi (C) and HSBC (HSBC) on the 2020 G-SIB list. Goldman Sachs (GS) and Wells Fargo (WFC) dropped to the lowest bucket on the list.
Top Stock Reports for Coca-Cola, Merck & Honeywell
by Mark Vickery
Today's Research Daily features new research reports on 16 major stocks, including Coca-Cola Company (KO), Merck (MRK) and Honeywell International (HON).
The Zacks Analyst Blog Highlights: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Prosperity Bancshares
by Zacks Equity Research
The Zacks Analyst Blog Highlights: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Prosperity Bancshares
Here's Why JPM, BAC, C, WFC and Other Bank Stocks are Soaring
by Swayta Shah
The coronavirus vaccine-related news by Pfizer (PFE) will have positive financial implications on banks. So, almost all banks - big/small like JPMorgan (JPM), BofA (BAC), Citi (C), Wells Fargo (WFC), Webster (WBS) and Prosperity (PB) - have been rallying.
Goldman (GS) to Meet Strategic Targets, Remains on Track
by Zacks Equity Research
Goldman (GS) optimistic about the bank's plan of meeting strategic targets laid out this January.
Deutsche Bank (DB) Continues Revamping, To Sell IT Unit to TCS
by Zacks Equity Research
Per Deutsche Bank (DB) and Tata Consultancy Services' (TCS) latest deal, the former will sell its technology services unit, Postbank Systems AG, to the latter.
Wells Fargo (WFC) Might Halt Pay Raises to Save Expenses
by Zacks Equity Research
With an aim to improve profitability and operating efficiency, Wells Fargo (WFC) is planning to freeze salary hike for the company's top earners.
Fee Income Supports Big Banks' Q3 Earnings: What's Next?
by Swayta Shah
In Q3, big banks - JPMorgan (JPM), BofA (BAC), Citigroup (C) and Wells Fargo (WFC) - benefit substantially from fee income. A similar trend is likely to continue over the next few quarters as the economy revives gradually.
Bank Stocks Tank on Sharp Fall in Treasury Yields, Uncertainty
by Priti Dhanuka
Bank stocks plummet on sharp fall in Treasury yields, bucking the rally in the broader market.
8 Big Banks in Murky Waters, To Face U.S. Cities' Allegations
by Priti Dhanuka
Eight big U.S. banks likely to be slapped with charges for allegedly conspiring and colluding information on a particular type of tax-exempt municipal bond -- VRDOs.
Wells Fargo (WFC) Mulling Sale of Asset Management Business
by Zacks Equity Research
Wells Fargo (WFC) might divest its asset management business to focus on core operations.
Regions (RF) Q3 Earnings Beat Estimates on Higher Revenues
by Zacks Equity Research
Regions' (RF) Q3 performance reflects higher revenues, partly offset by rise in provisions and expenses.
CIT Group (CIT) Stock Up on Q3 Earnings Beat, Merger Deal
by Zacks Equity Research
CIT Group (CIT) witnesses improvement in revenues along with a rise in provisions and expenses in the third quarter of 2020.
Ally Financial (ALLY) Stock Gains 2.7% on Q3 Earnings Beat
by Zacks Equity Research
Ally Financial (ALLY) records a rise in revenues and lower provisions in the third quarter of 2020.
Earnings & Stimulus in Focus
by Neena Mishra
Stocks ended a volatile week with small gains.
BNY Mellon (BK) Earnings Beat in Q3, Revenues Decline Y/Y
by Zacks Equity Research
BNY Mellon (BK) witnesses a decline in revenues and higher expenses in the third quarter of 2020.
Bank Stock Roundup: Q3 Earnings Season Unfolds, JPM, WFC & C Top Estimates
by Zacks Equity Research
Low rates hurt banks' Q3 results, while fee income provides some respite. Banks are still unsure of the future and have not issued detailed guidance.
Truist Financial (TFC) Q3 Earnings Beat, Provisions Decline
by Zacks Equity Research
Truist Financial (TFC) witnesses a fall in revenues in third-quarter 2020. Also, provisions decline from the previous quarter.
Mixed Q3 Earnings for Major Banks
by Zacks Equity Research
Mixed Q3 Earnings for Major Banks.
PPI Strengthens, Goldman Posts Big Q3 Earnings
by Mark Vickery
While September's PPI doubled expectations, Goldman Sachs posted a 73% earnings surprise in its Q3 release.
Wells Fargo (WFC) Q3 Earnings Beat on Strong Mortgage Banking
by Zacks Equity Research
Wells Fargo's (WFC) Q3 results reflect solid mortgage activity, reduced net interest income, along with higher provisions and stable expenses.
Wells Fargo (WFC) Q3 Earnings and Revenues Beat Estimates
by Zacks Equity Research
Wells Fargo (WFC) delivered earnings and revenue surprises of 19.15% and 5.00%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?
JPMorgan (JPM) Q3 Earnings Top on Lower Credit Cost, Trading
by Zacks Equity Research
Surprisingly lower provisions and continued support from fee income sources aid JPMorgan's (JPM) Q3 earnings amid weak loan demand and near-zero rates.
Citigroup (C) Q3 Earnings Beat Estimates, Expenses Escalate
by Zacks Equity Research
Citigroup's (C) Q3 results reflect rise in market revenues and strong underwriting business, along with elevated expenses and credit costs.
First Republic (FRC) Q3 Earnings Beat, Revenues & Costs Rise
by Zacks Equity Research
Higher revenues support First Republic's (FRC) Q3 earnings outperformance amid lower rates and coronavirus-related concerns.