Banking Round-Up: Price-To-Book Ratio Comparisons
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Banking Round-Up: Price-To-Book Ratio ComparisonsTrefis • Mon, May 20
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Hedge Fund Pacifica Capital's Top Stock PicksInsider Monkey • Thu, May 16
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Wells Fargo's CEO Discusses Q3 2012 Results - Earnings Call TranscriptFri, Oct 12, 2012
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Wells Fargo &'s CEO Discusses Q1 2012 Results - Earnings Call TranscriptFri, Apr 13, 2012 • 1 Comment
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Wells Fargo &'s CEO Discusses Q4 2011 Results - Earnings Call TranscriptTue, Jan 17, 2012
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Wells Fargo &'s CEO Discusses Q3 2011 Results - Earnings Call TranscriptMon, Oct 17, 2011 • 1 Comment
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Wells Fargo &'s CEO Discusses Q2 2011 Results - Earnings Call TranscriptTue, Jul 19, 2011 • 1 Comment
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Wells Fargo &'s CEO Discusses Q1 2011 Results - Earnings Call TranscriptWed, Apr 20, 2011 • 1 Comment
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Wells Fargo &'s CEO Discusses Q4 2010 Results - Earnings Call TranscriptWed, Jan 19, 2011 • 1 Comment
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Wells Fargo & Company Q2 2010 Earnings Call TranscriptWed, Jul 21, 2010
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Wells Fargo & Company Q1 2010 Earnings Call TranscriptWed, Apr 21, 2010
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Wells Fargo & Company Q4 2009 Earnings Call TranscriptWed, Jan 20, 2010
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Wells Fargo & Company Q3 2009 Earnings Call TranscriptWed, Oct 21, 2009
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Wells Fargo & Company Q2 2009 Earnings Call TranscriptWed, Jul 22, 2009
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Wells Fargo & Company Q1 2009 Earnings Call TranscriptThu, Apr 23, 2009
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The Trader's Expo New York: A Commodity Trader's Stock Picks TranscriptFri, Feb 27, 2009 • 3 Comments
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Wells Fargo & Company Q4 2008 Earnings Call TranscriptWed, Jan 28, 2009 • 1 Comment
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WFC vs. ETF Alternatives
Company Description
Wells Fargo & Company is a corporation organized under the laws of Delaware and a financial holding company and a bank holding company registered under the Bank Holding Company Act of 1956, as amended (BHC Act). Its principal business is to act as a holding company for its subsidiaries.
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- | Earnings
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- | M&A
- | On the move
- Thursday, April 11, 5:30 PM Notable earnings before Friday’s open: JPM, SJR, WFC 1 Comment [Earnings]
- Tuesday, April 9, 11:29 AM Banks this Friday will begin making payments to ~4.2M borrowers whose homes were in any stage of foreclosure in 2009-10. The payments, which will range from $300 to $125K, are compensation for the robo-signing scandal when bank employees said foreclosure documents were correct without reviewing them. Part of the settlement: BAC, C, GS, HBC, JPM, MET, MS, PNC, SAN, STI, USB, WFC. 34 Comments [Financials, U.S. Economy]
- Tuesday, April 9, 9:48 AM JPMorgan Chase (JPM) will lead big U.S. banks in job cuts with 17K expected through 2014, according to Bloomberg, after the six largest U.S. banks announced cuts to 1.8%, or 21K positions, during Q1. The housing rebound means many of the cuts will come in foreclosure units. Banks may tell more about their personnel plans starting this Friday when JPM and Wells Fargo (WFC) report Q1 results. 1 Comment [Financials]
- Sunday, April 7, 4:19 AM A bipartisan Senate bill would force all banks to hold capital of 10% and those with over $400B in assets an extra 5%. The strictest provisions would hit six banks: JPMorgan (JPM), BofA (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS). Analysts reckon the bill has little chance of becoming law, although its authors reckon support for the measures are growing. 34 Comments [Financials]
- Friday, April 5, 12:01 PM Wells Fargo (WFC) is likely to face a big drop in mortgage origination revenue this year, says JPMorgan's Vivek Juneja, expecting a decline to just $8B from $12B in 2012. The bank has offsets though, he says, including higher servicing revenues, and lower expenses and putback provisions. The overall impact on the bottom line should be just $334M-$404M. (previous) 1 Comment [Financials]
- Friday, April 5, 11:40 AM Avoid the "origination-reliant" bank names ahead of Q1 earnings, says FBR's Paul Miller, as the strong mortgage results from the past few reports will likely weaken. Most at risk: BAC, FITB, FBC, USB, STI, and WFC. That mortgage profits have worsened isn't news, but Miller suggests things have gotten worse than previous muted expectations. 16 Comments [Financials]
- Thursday, April 4, 3:02 PM Wells Fargo (WFC) bulls might want to consider the bank's TARP warrants as a cheap way to lever up, writes Assaf Nathan. Struck at $34.01 and expiring in 2018, the warrants are $3 in the money and sell for $12. Even better, the warrants - both the strike and the share count - are adjusted for distributions, adding more leverage the higher the stock price goes (you don't get this with a typical call option). 1 Comment [Financials, Quick Ideas]
- Wednesday, April 3, 2:52 PM Wells Fargo (WFC -0.2%) will have to face the music for serving as trustee for three SPVs tied to Medical Capital Holdings Inc. which went out of business in 2009 after the SEC sued it for fraud. A district judge denied WFC's bid to dismiss the charges which center around the bank's alleged failure in stopping Medical Capital Holdings from improperly diverting money. Investors lost as much as $1.08B when Medical Capital's "ponzi scheme" collapsed. 1 Comment [Financials]
- Wednesday, April 3, 3:39 AM Wells Fargo (WFC) is enjoying the benefits of charging forward in the mortgage market while its rivals have retreated, with the bank accounting for 28.8% of all home loans issued last year as "production" hit a record $524B. The strategy has brought massive profits, although questions are being asked about what Wells will do once the refinancing boom, which has driven its growth, drops off. 1 Comment [Consumer, Financials]
- Monday, April 1, 12:00 PM Bank of America (BAC) is biggest so it's only natural it should lead by a wide margin in mortgage-related complaints made to the CFPB, according to the bank, which blames its #1 spot on the Countrywide acquisition. BofA accounts for 29% of all complaints filed to date, compared to #2 Wells Fargo (WFC) with 16%. 8 Comments [Financials]
- Thursday, March 28, 11:15 AM Wells Fargo's (WFC) presence in the energy-boom states of the Northern Plains is paying off as it's the only one of the TBTFs reeling in significant deposits from the region. JPMorgan has no operations in the states surveyed, while BofA and Citigroup are at best marginal players. If the economy grows, then higher deposits mean better earnings, says Bernstein. Comment! [Financials]
- Wednesday, March 27, 9:20 AM One of Wells Fargo's (WFC) independent directors may not be so independent. Philip Quigley's son Scott works in the bank's principal investments group - the unit responsible for investing the lender's excess customer deposits (think London Whale). The younger Quigley earned $1.4M last year. Wells says it was unaware of the familial relationship until after the job offer had been made. 1 Comment [Financials]
- Friday, March 15, 5:54 AM Wells Fargo (WFC) CEO John Stumpf enjoyed an 8% increase in compensation to $19.3M in 2012 after the company's earnings jumped 19% to $18.9B, making him one of the best paid chief executives in the sector. Stumpf received a $2.8M basic salary, a $4M bonus and $12.5M in performance-based stock grants. 1 Comment [Financials]
- Thursday, March 14, 5:14 PM After hours movers in the banks: JPM -2.5% and GS -2.1% after the two had their capital proposals approved but were asked to submit new plans "to address weakness in their capital planning processes." WFC +0.4%, BAC +3.8% after no dividend hike, but a whopping $10.5B in share repurchases and redemption of high-yielding preferreds. Morgan Stanley +0.9%. The XLF +0.1%. 18 Comments [Financials, On the Move]
- Thursday, March 14, 5:06 PM More on bank capital return plans: Wells Fargo (WFC) an increase in the dividend to $0.30 from $0.25. Morgan Stanley (MS) will proceed with the $4.7B purchase of Smith Barney from Citigroup, but thus far there's no announcement of regarding capital returns. 1 Comment [Financials]
- Thursday, March 14, 7:57 AM A Dallas Fed plan to cap assets at FDIC-insured banks at $250B would force most of the TBTFs to more than halve their consumer and business-lending units. Such a limit, says Dallas Fed EVP Rosenblum, is required to allow the FDIC to shut them down without using taxpayer funds. The Dallas proposal isn't becoming law anytime soon, but it is driving the debate in D.C. 6 Comments [Financials]
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Dividend Sheet
$SDR $MEMP and $BBEP are the best yielding stocks with recent dividend hikes - http://stks.co/jT59 - 89 shares with 4.02% Yield $JNJ $WFC - View all 0 replies
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Phr3d: not a chance this year, wfc offer would be lowball against BAC's books, board wouldn't take it. fed wouldn't approve regardless
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Minutemen: Not bad at all. Things starting a little shaky but then turned to the upside.
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The Complete Dividend Plan: Everything for me keeps going straight up, except for PKIUF. Continued profit taking for weeks now.
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The Wall Street Transcript
Wells Fargo & Co. ($WFC) Trades Inexpensively Relative to Management Quality and Macroeconomic Outlook- http://su.pr/80Nhev - View all 0 replies
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Moses3rdeye: I might jump in at around 11.20 its down again in after hours should be a good trade on this pull back
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Philip Davis
Friday Facts Find Futures Falling -$$ $XLF $WFC $JPM $DBA $BRK.A $USO $IWM #stocks - http://fb.me/1sLaPvWqF - View all 0 replies
LATEST REPLIES
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Tom Guttenberger
Amazing uncharacteristic volatility in $WFC yesterday. 34 calls making 800% in a day! I was asleep at the switch over here! - View all 2 replies
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Tom Guttenberger: Lol, big one to manipulate. But, relative to IV that has to be one of the best no-news moves of the yr. Like Wells' fundamentals at moment.
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Joe Springer
There's time to make these trades yet if you agree: $AEM $BAC $QQQ $C $JPM $WFC $USB http://bit.ly/T5AvKl - View all 1 replies
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Joe Springer: It's a down day and it's early but so far we are 3 for 3: http://seekingalpha.com/a/lpx7 $AEM $BAC $QQQ
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Tom Guttenberger
Love how JPM and WFC Basel metrics are essentially the same yet JPM's "Fortress balance sheet strengthened". Snakes. - View all 4 replies
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Tom Guttenberger: but more forthcoming. I would think investor trust is more of an issue for bank shares - apparently not as they diverge pre-market.
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Michael Bryant
"U.S. sues Wells Fargo (WFC) in mortgage fraud case." I guess WFC is not all good after all. http://yhoo.it/UFITn7 - View all 1 replies
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Tom Guttenberger
If I had free liquidity or a position that I didn't have to pay an outrageous spread to close, I would be hammering calls on WFC today. Ugh. - View all 5 replies
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Tom Guttenberger: Closed these just now. In for .23 out for .71. Volatility rose and smile actually reversed. I am OK with taking time value off the table.
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freefdawatchlist: yes and its all ponzi scheme. http://bit.ly/R9lKUc "Fed bailout and sale to JPMorgan Chase"
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Ocean Man
Sold Oct $34 WFC calls for a gain of 34% in 3 days. $1.36 ---> $1.83. Stock went $34.88 ---> $35.61. http://seekingalpha.com/s/7pkbn - View all 3 replies
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Michael Bryant
So now we know how to kill a bank. Everybody, pull your funds from Bank of America (BAC) and put it in Wells Fargo (WFC). - View all 10 replies
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Energysystems: Oh I have a mortgage through WFC. Haven't had 1 problem. But on a larger basis, they've done a lot of dirty stuff that I don't support.
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