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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.
Zions (ZION) Eyes Headcount Reduction to Control Expenses
by Zacks Equity Research
Zions' (ZION) headcount at the start of 2024 will be 3% lower than the previous year as the company looks for job cuts as a way to control rising expenses.
Citigroup (C) Realigns Corporate Structure, Trims Management Layers
by Zacks Equity Research
Citigroup (C) simplifies its organization and eliminates extra management layers to make the decision-making process swifter, drive increased accountability and enhance the focus on clients.
Wells Fargo (WFC) Eyes Operational Efficiency With Job Cuts
by Zacks Equity Research
Wells Fargo (WFC) seeks to cut down on expenses by reducing its real estate footprint and headcount.
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 $42.25, moving -0.68% from the previous trading session.
Wells Fargo's (WFC) Settlement of $1B Is Approved by Judge
by Zacks Equity Research
Wells Fargo (WFC) has agreed to pay $1 billion to settle claims of the class action suit in May 2023. The deal has now been approved by the U.S. District Judge.
Should You Invest in the Invesco KBW Bank ETF (KBWB)?
by Zacks Equity Research
Sector ETF report for KBWB
Wells Fargo (WFC) is a Top-Ranked Value Stock: Should You Buy?
by Zacks Equity Research
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
Is Most-Watched Stock Wells Fargo & Company (WFC) Worth Betting on Now?
by Zacks Equity Research
Wells Fargo (WFC) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
FDIC-Insured Banks' Q2 Earnings Up on Higher NII, Deposits Fall
by Swayta Shah
FDIC-Insured banks' (like JPM, BAC, C & WFC) Q2 earnings improve on higher rates, decent loan demand and efforts to bolster fee income. Yet, rising funding costs, poor asset quality and lower deposit balance remain headwinds.
Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $41.02 in the latest trading session, marking a -1.25% move from the prior day.
Deutsche Bank (DB) Faces Probe From BaFin Over Postbank Unit
by Zacks Equity Research
Despite completing the technological integration of Postbank to migrate client data to its systems, Deutsche Bank (DB) is witnessing a probe due to its failure to resolve software issues.
Banks Struggled in August: Will Scenario Change in September?
by Swayta Shah
After a dismal August performance, investors are looking for clues as to how bank stocks like JPMorgan (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) will fare this month as they navigate industry headwinds.
Goldman (GS) Is Fined $5.5M for Non-Adherence to Record-Keeping
by Zacks Equity Research
Goldman (GS) is fined $5.5 million for violating record-keeping provisions, per CFTC order.
Citigroup (C) Agrees to $2.9M Fine on Record-Keeping Violation
by Zacks Equity Research
Citigroup (C) has been levied a $2.9 million civil penalty by SEC for violating record-keeping requirements.
Bank ETFs Had a Downbeat August: What Lies Ahead?
by Sanghamitra Saha
Banking stocks had a downbeat August. While situation is still grave for regional bank ETFs, still-cheaper valuation and decent earnings for big banks are the positives.
Wells Fargo (WFC) Gains But Lags Market: What You Should Know
by Zacks Equity Research
In the latest trading session, Wells Fargo (WFC) closed at $42, marking a +0.29% move from the previous day.
Wells Fargo (WFC) to Pay $35M Penalty to SEC & Settle Charges
by Zacks Equity Research
Wells Fargo (WFC) to pay a penalty of $35 million for overcharging advisory fees in more than 10,900 investment advisory accounts. It paid around $40 million to the distressed accountholders.
Wells Fargo (WFC) Gains But Lags Market: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $41.61 in the latest trading session, marking a +0.27% move from the prior day.
Nomura (NMR) to Pay $35M to Settle Residential MBS Fraud
by Zacks Equity Research
Nomura (NMR) is fined $35 million to settle fraud related to the trading of residential mortgage-backed securities.
Wells Fargo & Company (WFC) is Attracting Investor Attention: Here is What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
CURO Subsidiary Sued for Misleading Consumer Loan Borrowers
by Zacks Equity Research
CURO's subsidiary, Heights Finance, faces lawsuit for deceptively pushing struggling borrowers to refinance short-term loans and placing them in continuous debt.
Wells Fargo (WFC) Aided by Cost Control Amid Lower Revenues
by Zacks Equity Research
Cost-saving initiatives and strong deposit growth are likely to keep supporting Wells Fargo's (WFC) financials. However, a decline in revenues and a fall in loan balance are major headwinds.
Wells Fargo (WFC) Wins Class Action Suit Over Fake Interviews
by Zacks Equity Research
Wells Fargo (WFC) wins the dismissal of the lawsuit accusing it of faking interviews to meet its guidelines on workplace diversity.
Brokers Suggest Investing in Wells Fargo (WFC): Read This Before Placing a Bet
by Zacks Equity Research
Based on the average brokerage recommendation (ABR), Wells Fargo (WFC) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
Is Bank of America (BAC) Worth a Look Despite 11.6% YTD Fall?
by Swayta Shah
Bank of America (BAC) has lost 11.6% so far this year. Strong fundamentals, growth prospects and efforts to expand in new markets will support financials.