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Stock Market & Financial Investment News

News Breaks
February 12, 2014
09:33 EDTWFCWells Fargo sees 1Q14 mortgage originations declining from 4Q13
Sees 1Q14 mortgage originations declining from 4Q13, while gain on sale margin is expected to remain in the range reported in 2H13. Says focusing on growing NII over time. Continues to expect future reserve releases, absent significant deterioration in the economy. Targets include: efficiency ratio 55%-59%, ROA 1.3%-1.6%, ROE 12%-15%, total payout ratio ~50%-65%. Comments from slides that are being presented at the Credit Suisse Financial Services Forum.
News For WFC From The Last 14 Days
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January 26, 2015
12:49 EDTWFCFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:45 EDTWFCFifth Third Bancorp to buy back $180M of stock from Wells Fargo
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January 23, 2015
07:23 EDTWFCBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:42 EDTWFCU.S. banks preparing for prolonged low bond yields, Reuters says
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January 22, 2015
14:36 EDTWFCCFPB fines Wells Fargo, JPMorgan for kickback scheme
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