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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.
UBS to Pay $1.44B to Clear 2008 Financial Crisis Case with DOJ
by Zacks Equity Research
UBS agrees to pay $1.44 billion to settle financial crisis case with the U.S. DOJ. UBS asserted that the settlement has been fully provisioned in prior periods.
UBS, Credit Suisse Banned From Russia Subsidiary Disposals
by Zacks Equity Research
A Moscow court bans UBS Group (UBS) and Credit Suisse from disposing of shares in their Russia subsidiaries after a request by Russia's Zenit Bank.
Stock Market News for Aug 16, 2023
by Zacks Equity Research
Wall Street closed sharply lower on Tuesday following gloomy news across the world.
UBS to Face Another Lawsuit for Inadequate Consideration
by Zacks Equity Research
UBS is expected to face another claim by former shareholders and employees of Credit Suisse who suffered losses due to the emergency takeover of the latter.
Is Wells Fargo & Company (WFC) a Worthy Stock for Value Investors?
by Zacks Equity Research
Is Wells Fargo & Company (WFC) a great pick from the value investor's perspective right now? Read on to know more.
Banks Fined by Regulators for Non-Adherence to Record-keeping
by Swayta Shah
Banks like Wells Fargo (WFC), BNP Paribas (BNPQY) and Moelis & Company (MC) face fines totaling $549 million from regulators for failure to maintain proper communication records. This follows similar actions on large banks, including JPM and GS.
Company News for Jul 27, 2023
by Zacks Equity Research
Companies in The News Are: AMED,SNAP,UNP,WFC
Bank ETFs in Focus on Consumer vs Corporate Tug-of-War in Q2
by Sanghamitra Saha
Resilient consumers but a cautious corporate behavior pulled the strings on banking earnings in the second quarter.
Commerce Bancshares (CBSH) Stock Up 5.26% on Q2 Earnings Beat (Revised)
by Zacks Equity Research
Higher interest rates, rise in loan balances and solid growth in net interest income support Commerce Bancshares' (CBSH) Q2 earnings. However, a rise in non-interest expenses and provisions hurts.
Commerce Bancshares (CBSH) Stock Up 5.26% on Q2 Earnings Beat
by Zacks Equity Research
Higher interest rates, rise in loan balances and solid growth in net interest income support Commerce Bancshares' (CBSH) Q2 earnings. However, a rise in non-interest expenses and provisions hurts.
Synovus (SNV) Q2 Earnings Beat Estimates, Revenues Rise Y/Y
by Zacks Equity Research
Higher provisions and non-interest expenses hurt Synovus' (SNV) Q2 earnings, while loan growth and higher rates support NII.
F.N.B. Corp (FNB) Q2 Earnings Beat Estimates, Revenues Rise Y/Y
by Zacks Equity Research
Higher interest rates, robust loan demand and improvement in NII support F.N.B. Corp's (FNB) Q2 earnings amid a rise in expenses and higher provisions.
Wells Fargo & Company (WFC) Is a Trending Stock: Facts to Know Before Betting on It
by Zacks Equity Research
Zacks.com users have recently been watching Wells Fargo (WFC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Bank Stocks' Q2 Earnings Show Consumer & Corporate Tug-of-War
by Sanghamitra Saha
Resilient consumers but a cautious corporate behavior pulled the strings on banking earnings in the second quarter.
Fifth Third (FITB) Q2 Earnings Beat, Revenues Rise on NII
by Zacks Equity Research
Increases in the fee income and NII aid Fifth Third's (FITB) Q2 revenue growth, while higher expenses act as a headwind.
Northern Trust's (NTRS) Q2 Earnings Beat Estimates, NII Rises
by Zacks Equity Research
An increase in NII as well as growth in AUC and AUM balances supported Northern Trust's (NTRS) Q2 earnings. However, rising expenses and declining fee income are headwinds.
U.S. Bancorp's (USB) Q2 Earnings Lag Estimates, Provisions Rise
by Zacks Equity Research
An increase in net interest income (NII) and non-interest income drive U.S. Bancorp's (USB) Q2 earnings. However, higher provisions and rising expenses are headwinds.
Goldman (GS) Q2 Earnings Miss on Weak IB, Revenues Fall Y/Y
by Zacks Equity Research
The muted IB business on a slump in deal-making activities and higher expenses hurt Goldman's (GS) Q2 earnings.
Citizens Financial (CFG) Q2 Earnings Miss, Revenues Rise on NII
by Zacks Equity Research
Higher interest rates and NII support Citizens Financial's (CFG) Q2 earnings, while a fall in non-interest income and loans, and higher expenses are headwinds.
JPMorgan, Citigroup and Wells Fargo are part of Zacks Earnings Preview
by Zacks Equity Research
JPMorgan, Citigroup and Wells Fargo are part of Zacks Earnings Preview.
Q2 Earnings Season: A Good Start So Far
by Sheraz Mian
There was plenty to like from the banks, with the resilient economy helping keep credit demand positive and higher interest rates allowing them to charge more for those loans.
Wells Fargo's (WFC) Q2 Earnings Beat Estimates as NII Rises
by Zacks Equity Research
An increase in net interest income (NII) and non-interest income drive Wells Fargo's (WFG) Q2 earnings. However, higher provisions and rising expenses are headwinds.
Wall Street Kicks Off Q2 2023 Earnings Season
by Zacks Equity Research
Wall Street Kicks Off Q2 2023 Earnings Season
JPMorgan Posts +20% Beat; C, WFC, UNH Also Outperform
by Mark Vickery
Earnings of $4.37 per share easily outpaced the $3.62 in the Zacks consensus and the $2.76 per share reported a year ago.
Wells Fargo (WFC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
by Zacks Equity Research
Although the revenue and EPS for Wells Fargo (WFC) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.