Elizabeth Warren, a top Democratic Senator, has requested the Federal Reserve not to remove the $1.95 trillion asset cap imposed on Wells Fargo & Company (WFC) until the bank solves its risk management and compliance issues. This was reported by Reuters on Nov. 20, 2024.In a letter to the Fed’s chairman, Jerome Powell and regulatory chief, Michael Barr, Warren highlighted that the restriction, which was imposed in 2018, should not be lifted until WFC "can show that it can properly manage the risks associate ...

I'm a full time value investor and writer who enjoys using classical value ratios to pick my portfolio. Long-term focused on low P/B, P/FCF, Owner Earnings discounting, PEG ratios, the Graham Number and an occasional net-net hunter. I also believe tracking earnings growth versus price appreciation is an essential element to any quality evaluation.I advocate self-indexing primarily using the Dow Jones Industrial Average as my index of choice combined with Joel Greenblatt's Magic Formula. This can help with t ...

Wells Fargo & Company (WFC) shares touched a 52-week high of $74.41 on Friday. The stock closed the session a little lower at $74.34, gaining 31.7% in the past three months.The stock has outperformed the industry and its peers like Bank of America Corporation (BAC) and Citigroup Inc. (C) in the same time frame.Three-Months Price Performance ChartImage Source: Zacks Investment ResearchA major factor for this upward movement of WFC stock can be attributed to the Federal Reserve’s recent interest rate cut, whi ...

Aside from the Great Recession and the bank failures of last year, few issues in the recent banking era have been more scandalous than Wells Fargo's (WFC 0.04%) infamous phony-accounts scandal. Employees at the bank opened millions of credit card and bank accounts without customers' consent. Since that scandal came to light in 2016, Wells Fargo has dealt with consent orders, paid billions in fines, and done its best to overcome a reputational nightmare. But the bank has not shed a Federal Reserve-imposed as ...

Wells Fargo & Company (NYSE:WFC) BancAnalysts Association of Boston Conference Call November 7, 2024 8:10 AM ET Company Participants Mike Santomassimo - Chief Financial Officer Conference Call Participants Gerard Cassidy - RBC Capital Markets Gerard Cassidy Good morning, everyone. I’m Gerard Cassidy, President of the BancAnalysts Association of Boston. And on behalf of the Board of Directors, I want to welcome everybody to our 43rd annual conference here. And for some of the folks that have been around for ...

Shares of major banks climbed in overnight trading as investors expected Donald Trump's victory in the presidential election.Citigroup jumped about 5% in special late trading on the Robinhood brokerage for well-known stocks. Bank of America added more than 3%, while Wells Fargo and Goldman Sachs each popped more than 2%.These moves come as traders followed results trickling out on the race for the White House. Former President Donald Trump is currently leading by NBC News' count, though several key states h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-2979 WELLS FARGO & COMPANY (Exact name of registrant as specified in its charter) Delaware No. 41-0449 ...

Wells Fargo & Company TodayWFCWells Fargo & Company$64.02 -0.34 (-0.53%) 52-Week Range$38.58▼$64.78Dividend Yield2.50%P/E Ratio13.15Price Target$61.82Add to WatchlistWells Fargo & Co. NYSE: WFC reported a relatively solid third quarter of 2024 earnings report, beating analyst EPS expectations by 14 cents. The finance sector laggard has done a remarkable job diversifying fee-based income to offset net interest income headwinds. Wells Fargo was a laggard heading into its report, and the resulting stock gains ...

Wells Fargo CEO Charlie Scharf gave CNBC's Jim Cramer a positive read on the consumer landscape."The consumer's been extremely resilient," he said. "We don't sit here and say risks don't exist — But what we see looks pretty, pretty strong."According to Scharf, consumer spend is going up "at a very measured pace" in both debit and credit cards. Deposit balances, he added, remain strong and credit quality is "still performing extremely well." He praised the Federal Reserve, saying the central bank managed the ...

Bank branches in the US were closed on Monday due to the Columbus Day. Nonetheless, this week is crucial as several money center banks, such as Citigroup ( C ) and Bank of America ( BAC ), willHey there! My focus here is to provide you with insightful rating analysis on the world's leading financial firms to help you navigate and comprehend the latest investment opportunities while identifying potential pitfalls. My favorite picks are those that are tilted toward both the growth and quality factors. These a ...