In the latest market close, Wells Fargo (WFC) reached $57.61, with a +0.91% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.12%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.The biggest U.S. mortgage lender's stock has climbed by 16.7% in the past month, exceeding the Finance sector's gain of 4.07% and the S&P 500's gain of 2.06%.Market participants will be closely following the financial results of Wells Fargo in its upcom ...

Wells Fargo (WFC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this biggest U.S. mortgage lender have returned +18.8%, compared to the Zacks S&P 500 composite's +2.7% change. During this period, the Zacks Banks - Major Regional industry, which Wells Fargo falls in, has gained 8.3%. The key question now is: What could be the stock's future direct ...

Richer rewards, new transfer partners and access to exclusive concert experiences create a card to challenge the categorySAN FRANCISCO, March 6, 2024 /PRNewswire/ -- Wells Fargo & Company (NYSE: WFC) announced today a new addition to the celebrated Autograph rewards card suite: Wells Fargo Autograph Journey℠ Visa® Card. Autograph Journey is designed for frequent travelers and complements Wells Fargo's other consumer credit cards offering customers real, transparent value no matter what they're looking for i ...

In the latest trading session, Wells Fargo (WFC) closed at $55.81, marking a +1.36% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.12%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.41%.Shares of the biggest U.S. mortgage lender witnessed a gain of 12% over the previous month, beating the performance of the Finance sector with its gain of 3.94% and the S&P 500's gain of 4.83%.Analysts and investors alik ...

Wells Fargo (WFC) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this biggest U.S. mortgage lender have returned +7.1% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Banks - Major Regional industry, to which Wells Fargo belongs, has gained 3.7% over this period. Now the key question is: Where could the stock be headed in t ...

SAN FRANCISCO--(BUSINESS WIRE)--When asked how Americans are faring financially, most admitted to having to make major adjustments due to the economy, according to the inaugural Wells Fargo Money Study. Two-thirds (67%) of Americans say that they’ve cut back on spending, and almost half (45%) say they’ve put some life plans on hold. A third (35%) have dipped into their savings or investments. And almost two thirds (62%) say that even though they are able to pay their bills, they have little left over for “e ...

Wells Fargo (WFC) closed the latest trading day at $54.13, indicating a +0.5% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.13%.Shares of the biggest U.S. mortgage lender have appreciated by 7.03% over the course of the past month, outperforming the Finance sector's gain of 3.85% and the S&P 500's gain of 4.74%.The investment community will be paying close attention to the earnings performa ...

Summary of Wells Fargo & Company Conference Call Company Overview - **Company**: Wells Fargo & Company (NYSE: WFC) - **Event**: UBS Financial Services Conference 2024 - **Date**: February 26, 2024 Key Points Regulatory Remediation - The termination of the 2016 sales practices consent order by the OCC is a significant milestone, with eight consent orders remaining [1][2][3] - Progress in remediation is ongoing, with a focus on addressing regulatory issues as a top priority [2][3] Consumer Banking and Lending - U.S. consumer health remains resilient, with average deposit balances still higher than pre-COVID levels despite a decline from peaks [5][6] - Spending remains strong, evidenced by packed restaurants and flights, although some consumer cohorts are experiencing stress [5][6] - A gradual spend down of consumer deposits is expected, with potential deterioration in credit quality over time [6][8] - The consumer deposit mix is shifting, with continued interest in CDs as a rate-seeking behavior [8][10] Commercial Banking - Corporate and SME clients are cautious about borrowing, reflecting a prudent approach in a potentially challenging economic environment [18][20] - Investment in the commercial bank includes hiring more bankers and enhancing technology to better serve clients [22][23] Private Credit - Private credit is increasingly relevant, particularly in the LBO space, but Wells Fargo is not pursuing high-leverage deals that do not align with its underwriting standards [25][26] - A partnership with Centerbridge has been established to offer financing solutions for mid-market clients [27][28] Corporate and Investment Banking (CIB) - Trading revenues have improved, with market share gains attributed to investments in technology and talent [29][30] - The integration of various business lines within CIB is expected to enhance fee generation without significantly increasing risk [32][33] - Future growth in CIB is anticipated as the asset cap is lifted, allowing for increased activity [38][40] Net Interest Income (NII) - A 7% to 9% decline in NII is projected for 2024, influenced by rate cut expectations and a modestly asset-sensitive profile [41][42] - The impact of deposit levels and loan growth on NII will be closely monitored throughout the year [43] Wealth Management - Efforts to stabilize and grow the wealth management business are underway, with a focus on attracting advisers and enhancing product offerings [46][48] - Opportunities exist to better serve affluent customers from the consumer bank in their wealth management needs [49] Expenses and Efficiency - Significant investments have been made in risk and regulatory compliance, with potential for future optimization once remediation is complete [52][53] - Ongoing modernization of technology and infrastructure is expected to improve efficiency and customer experience [54] Commercial Real Estate (CRE) - The commercial real estate sector is under scrutiny, particularly the office space segment, but overall portfolio performance remains strong [56][57] - Charge-offs in CRE are anticipated, with reserves expected to be utilized as the situation evolves [57] Capital Management - Plans for stock buybacks in 2024 exceed the $12 billion repurchased in 2023, with decisions based on client support opportunities and risk assessments [58][59] - The impact of regulatory frameworks like DFAST and Basel III on capital management strategies is being closely monitored [60][61] Additional Insights - The conference highlighted the importance of adapting to changing market conditions and regulatory environments while focusing on customer needs and operational efficiency [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][56][57][58][59][60][61][62][63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 Commission File Number 001-2979 WELLS FARGO & COMPANY (Exact name of registrant as specified in its charter) Delaware No. 41-0449260 (State of incorporation) (I.R.S. Employer Identification No.) 420 Montgomery Street, San Francisco, California 94104 (Address of principal executive offices) (Zip code) ...

Wells Fargo & Company (WFC) has crossed a major regulatory hurdle with the termination of the consent order by Office of Comptroller of Currency (OCC). The order was issued back in September 2016 on revelation of opening of millions of unauthorized accounts leading to misconduct in the company’s sales practices.The consent order required WFC to revamp the procedures followed by the bank in offering and selling its products and services to customers. As the bank has been complying with laws and regulations, ...