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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.
JPMorgan, Wells Fargo, Citigroup and Bank of America are part of Zacks Earnings Preview
by Zacks Equity Research
JPMorgan, Wells Fargo, Citigroup and Bank of America are part of Zacks Earnings Preview
Fee Income to Aid Wells Fargo (WFC) Q3 Earnings Amid Low Rates?
by Zacks Equity Research
Wells Fargo's (WFC) Q3 results likely to reflect impact of low rates, partly offset by an improved fee income, including strong mortgage activity during the July-September quarter.
Bank Stock Roundup: Citi Faces Penalty, BofA & Wells Fargo Restructure Business
by Swayta Shah
Improving oversight related to risk management process and business restructuring initiatives will support major bank stocks, going forward.
Are Bank Stocks Cheap or Value Traps?
by Sheraz Mian
Driving this underperformance is the group's cyclical exposure, with the demand for credit and other banking services strongly correlated with GDP growth...
Bank ETFs Surge as Yield Curve Steepens
by Sweta Killa
The banking corner of the broader financial sector is back on track this month owing to the steepening of the yield curve. Will the strong trend continue?
Wells Fargo in Restructuring Mode, Terminates More Than 700 Jobs
by Zacks Equity Research
With an aim of improving profitability and operating efficiency, Wells Fargo (WFC) resumes layoffs with the termination of more than 700 commercial-banking jobs.
Analysts Estimate Wells Fargo (WFC) to Report a Decline in Earnings: What to Look Out for
by Zacks Equity Research
Wells Fargo (WFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $24.45 in the latest trading session, marking a +1.92% move from the prior day.
Goldman Revives Job Cut Plan After Coronavirus-Induced Pause
by Zacks Equity Research
With an aim to improve profitability and operating efficiency, Goldman (GS) revives plans to cut 400 jobs or 1% of its workforce.
Fed Restricts Big Banks' Dividends, Suspends Q4 Share Buybacks
by Priti Dhanuka
The Federal Reserve restricts big U.S. banks from share repurchases and dividend payments through the end of this year to ensure liquidity of the financial firms by conserving capital.
Wells Fargo (WFC) Gains But Lags Market: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed the most recent trading day at $23.82, moving +0.76% from the previous trading session.
Wells Fargo Inks Data Exchange Agreement With Envestnet
by Zacks Equity Research
Wells Fargo (WFC) partners with Envestnet to enhance its customers experience and enable secure transferring of data.
Biden's Corporate Tax Plan Could Spell Trouble for Bank ETFs
by Sweta Killa
Biden proposed corporate tax hike from 21% to 28% would drop net income by more than $7 billion per year for the nation's 10 largest banks.
Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed the most recent trading day at $23.66, moving -1.6% from the previous trading session.
Fed Reveals 'Mid-Cycle' Stress Test Scenarios for Major Banks
by Swayta Shah
The Federal Reserve will test 34 major banks under two hypothetical scenarios to check the capital and liquidity adequacy amid the coronavirus concerns.
PNC Financial, KeyCorp Accelerate Branch Closures Amid Crisis
by Zacks Equity Research
PNC Financial (PNC) and KeyCorp (KEY) announce plans of closing more branches through 2021 to cope with the aftershocks of the pandemic.
Banks Down on Bleak Revenue Outlook as Loan Demand Falters
by Swayta Shah
Near zero interest rates and mute demand for loans are likely to hamper banks' revenue growth, going forward.
Wells Fargo (WFC) Gains But Lags Market: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $24.88 in the latest trading session, marking a +0.28% move from the prior day.
Citi Might Face Public Rebuke by Regulators, Resumes Layoffs
by Zacks Equity Research
Citigroup (C) may face a consent order that will make it necessary for the bank to take some immediate action and improve its fault controlling systems.
Banks Issue Mixed Views for Q3, Revenues Likely to be Stellar
by Priti Dhanuka
Big banks -- Wells Fargo (WFC), Citigroup (C), Fifth Third (FITB) and Huntington (HBAN) -- announce Q3 and FY20 guidance.
Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $23.84 in the latest trading session, marking a -0.54% move from the prior day.
JPMorgan Probes Staffs' Engagement in Abuse of Relief Program
by Zacks Equity Research
JPMorgan (JPM) is investigating whether its employees have engaged in the potential abuse of the government stimulus measures like the Paycheck Protection Program.
Berkshire Hathaway Decreases Stake in Wells Fargo to 3.3%
by Zacks Equity Research
Recent ratings outlook downgrade by Moody's, dividend cut and asset cap placed by the Fed led Warren Buffett to cut stake in Wells Fargo (WFC).
Bank Stock Roundup: Treasury Yields Decline, JPMorgan, Wells Fargo in Focus on Restructuring
by Zacks Equity Research
Banking stocks depreciate on investors' concerns over economic growth, which incline them toward safe-haven assets, causing the yield on benchmark 10-year Treasury note to dip.
Wells Fargo (WFC) Stock Moves -0.2%: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $24.52 in the latest trading session, marking a -0.2% move from the prior day.