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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.
Earnings & Stimulus in Focus
by Neena Mishra
Stocks ended a volatile week with small gains.
BNY Mellon (BK) Earnings Beat in Q3, Revenues Decline Y/Y
by Zacks Equity Research
BNY Mellon (BK) witnesses a decline in revenues and higher expenses in the third quarter of 2020.
Bank Stock Roundup: Q3 Earnings Season Unfolds, JPM, WFC & C Top Estimates
by Zacks Equity Research
Low rates hurt banks' Q3 results, while fee income provides some respite. Banks are still unsure of the future and have not issued detailed guidance.
Truist Financial (TFC) Q3 Earnings Beat, Provisions Decline
by Zacks Equity Research
Truist Financial (TFC) witnesses a fall in revenues in third-quarter 2020. Also, provisions decline from the previous quarter.
Mixed Q3 Earnings for Major Banks
by Zacks Equity Research
Mixed Q3 Earnings for Major Banks.
PPI Strengthens, Goldman Posts Big Q3 Earnings
by Mark Vickery
While September's PPI doubled expectations, Goldman Sachs posted a 73% earnings surprise in its Q3 release.
Wells Fargo (WFC) Q3 Earnings Beat on Strong Mortgage Banking
by Zacks Equity Research
Wells Fargo's (WFC) Q3 results reflect solid mortgage activity, reduced net interest income, along with higher provisions and stable expenses.
Wells Fargo (WFC) Q3 Earnings and Revenues Beat Estimates
by Zacks Equity Research
Wells Fargo (WFC) delivered earnings and revenue surprises of 19.15% and 5.00%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?
JPMorgan (JPM) Q3 Earnings Top on Lower Credit Cost, Trading
by Zacks Equity Research
Surprisingly lower provisions and continued support from fee income sources aid JPMorgan's (JPM) Q3 earnings amid weak loan demand and near-zero rates.
Citigroup (C) Q3 Earnings Beat Estimates, Expenses Escalate
by Zacks Equity Research
Citigroup's (C) Q3 results reflect rise in market revenues and strong underwriting business, along with elevated expenses and credit costs.
First Republic (FRC) Q3 Earnings Beat, Revenues & Costs Rise
by Zacks Equity Research
Higher revenues support First Republic's (FRC) Q3 earnings outperformance amid lower rates and coronavirus-related concerns.
JPMorgan, Wells Fargo, Citigroup and Bank of America are part of Zacks Earnings Preview
by Zacks Equity Research
JPMorgan, Wells Fargo, Citigroup and Bank of America are part of Zacks Earnings Preview
Fee Income to Aid Wells Fargo (WFC) Q3 Earnings Amid Low Rates?
by Zacks Equity Research
Wells Fargo's (WFC) Q3 results likely to reflect impact of low rates, partly offset by an improved fee income, including strong mortgage activity during the July-September quarter.
Bank Stock Roundup: Citi Faces Penalty, BofA & Wells Fargo Restructure Business
by Swayta Shah
Improving oversight related to risk management process and business restructuring initiatives will support major bank stocks, going forward.
Are Bank Stocks Cheap or Value Traps?
by Sheraz Mian
Driving this underperformance is the group's cyclical exposure, with the demand for credit and other banking services strongly correlated with GDP growth...
Bank ETFs Surge as Yield Curve Steepens
by Sweta Killa
The banking corner of the broader financial sector is back on track this month owing to the steepening of the yield curve. Will the strong trend continue?
Wells Fargo in Restructuring Mode, Terminates More Than 700 Jobs
by Zacks Equity Research
With an aim of improving profitability and operating efficiency, Wells Fargo (WFC) resumes layoffs with the termination of more than 700 commercial-banking jobs.
Analysts Estimate Wells Fargo (WFC) to Report a Decline in Earnings: What to Look Out for
by Zacks Equity Research
Wells Fargo (WFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed at $24.45 in the latest trading session, marking a +1.92% move from the prior day.
Goldman Revives Job Cut Plan After Coronavirus-Induced Pause
by Zacks Equity Research
With an aim to improve profitability and operating efficiency, Goldman (GS) revives plans to cut 400 jobs or 1% of its workforce.
Fed Restricts Big Banks' Dividends, Suspends Q4 Share Buybacks
by Priti Dhanuka
The Federal Reserve restricts big U.S. banks from share repurchases and dividend payments through the end of this year to ensure liquidity of the financial firms by conserving capital.
Wells Fargo (WFC) Gains But Lags Market: What You Should Know
by Zacks Equity Research
Wells Fargo (WFC) closed the most recent trading day at $23.82, moving +0.76% from the previous trading session.
Wells Fargo Inks Data Exchange Agreement With Envestnet
by Zacks Equity Research
Wells Fargo (WFC) partners with Envestnet to enhance its customers experience and enable secure transferring of data.
Biden's Corporate Tax Plan Could Spell Trouble for Bank ETFs
by Sweta Killa
Biden proposed corporate tax hike from 21% to 28% would drop net income by more than $7 billion per year for the nation's 10 largest banks.
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 $23.66, moving -1.6% from the previous trading session.