Wells Fargo & Company (WFC) has been facing a proposed class action lawsuit alleging the bank for taking part in a $300 million Ponzi scheme. This scheme affected more than 1,000 investors, mainly senior citizens, and left them without substantial life savings.The lawsuit filed stated that WFC had knowledge about the fraudulent activities from 2011 to 2021. The company provided substantial assistance to the perpetrators while reaping the benefits from the scam.The current lawsuit seeks monetary remedies tha ...

Wells Fargo & Company (WFC) , together with Mastercard, announced the launch of the Attune World Elite Mastercard. The latest credit card offers unlimited 4% cash rewards on all eligible purchases, without any annual fee.The card is intended to reward cardholders for purchases that benefit their health, pets and the planet around them. Attune World Elite Mastercard holders can enjoy 4% cash rewards on fitness and wellness, like gym memberships, exercise classes, salons and spas. Additionally, cardholders ca ...

Making their way onto the Zacks Rank #1 (Strong Buy) list now appears to be a good time to consider a pair of big bank stocks in Bank of America (BAC)  and Wells Fargo (WFC) .The strong performance of Bank of America and Wells Fargo’s stock looks likely to continue with both up over +35% in the last year to outpace the broader indexes while being on the heels of JPMorgan’s (JPM)  +42%.What may also attract investors is that BAC and WFC still trade at a fourth and a third of the price of JPM respectively and ...

Adding Wells Fargo & Company (WFC) stock to your portfolio seems to be a wise idea now. Supported by strong fundamentals, the company is well-poised for growth.The Zacks Consensus Estimate for Wells Fargo’s 2024 and 2025 earnings have moved 5.7% and 2% north, respectively, indicating that analysts are optimistic regarding its earnings growth potential. WFC currently sports a Zacks Rank #1 (Strong Buy).In the past six months, the company’s shares have gained 33.4% compared with the industry’s growth of 26%.L ...

The most recent trading session ended with Wells Fargo (WFC) standing at $59.34, reflecting a -0.97% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.11%. Meanwhile, the Dow experienced a drop of 0.3%, and the technology-dominated Nasdaq saw an increase of 0.56%.The biggest U.S. mortgage lender's shares have seen a decrease of 0.03% over the last month, not keeping up with the Finance sector's gain of 4.44% and the S&P 500's gain of 5.06%.Analyst ...

ablokhin Wells Fargo & Company (NYSE:WFC) is one of the largest banks in the world, with a market capitalization of more than $200 billion. The bank has been forced to face scandal after scandal, and has had a cap on its assets imposed by the FED. The company expects asset caps to remain through next year and Berkshire Hathaway Inc. (BRK.A) (BRK.B) has disposed of the last of what was once a large stake. Despite that, as we discussed at the start of the year, the company has doubled the returns of the S&P 5 ...

Wells Fargo (WFC) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing ...

Wells Fargo CEO Charlie Scharf reportedly told investors Wednesday (May 29) that the bank could be doing more corporate lending and trading if regulators lifted the asset cap that they imposed on it.Regulators put the $1.95 trillion asset cap on Wells Fargo as part of the fines and regulatory punishments that resulted from the bank’s fake account scandal, Reuters reported Wednesday.Scharf said that Wells Fargo is fixing its problems but that the regulators will decide when to lift the asset cap, according t ...

TayaCho/E+ via Getty Images Late last week, Wells Fargo put out a large list of potential and logical buyout targets in the biotech sector. They focused on the midcap space for various reasons. One of the names on the report was Viking Therapeutics, Inc. (VKTX), which is on my short list of likely biotech acquisitions as well. However, I recently covered this mid-cap GLP-1 concern in this article, and I haven't been alone (I, II) here on Seeking Alpha in reaching that conclusion. Today, we highlight three o ...

Wells Fargo & Company (NYSE:WFC) Bernstein's 40th Annual Strategic Decisions Conference Call May 29, 2024 8:00 AM ET Company Participants Charlie Scharf - Chief Executive Officer Conference Call Participants John McDonald - Bernstein John McDonald Okay, great. Welcome, everyone, to the Strategic Decisions Conference. Very happy to have everyone here and happy to have Charlie Scharf from Wells Fargo back with us again this year. Charlie, thanks for joining. Charlie Scharf It's great to be here, John. Thanks ...