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Wells Fargo & Co. (WFC)

- NYSE
  • Feb. 11, 2013, 8:26 AM
    Wells Fargo (WFC) is upgraded to Buy at Stifel Nicolaus, as valuations have the firm doing a bit of shuffling in its bank ratings. UBS catches an upgrade as well, but Fifth Third Bancorp (FITB) is cut to Hold.
    | 3 Comments
  • Feb. 5, 2013, 12:18 PM
    More on the banks: Wells Fargo (WFC) is a top pick of Mosby's, with an expected return on tangible common equity of 17.4% far above the 9.5% cost of of equity. The bank recently hiked its quarterly dividend to $0.25, and Mosby expects more - a total 2013 dividend payout of $1.20.
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  • Jan. 29, 2013, 12:41 PM
    Why doesn't Buffett (BRK.B) buy back more shares? He can do better elsewhere, writes The Brooklyn Investor, posting the "astonishing" record of book value/share growth in Wells Fargo (WFC) over the past decade. If a fund had this sort of record, investors would be begging to get in, but just because it's a TBTF bank, many refuse to invest.
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  • Jan. 24, 2013, 10:54 AM
    Wells Fargo (WFC) is sued over mishandling the management of a CDO created by now-defunct WestLB, a German state-owned bank. The plaintiff is the German agency created to wind-down the bank's assets, and it blames Wells' mismanagement for causing $160M in losses.
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  • Jan. 22, 2013, 5:24 PM
    Wells Fargo & Company (WFC) declares $0.25/share quarterly dividend, 14% increase from prior dividend of $0.22. Forward yield 2.85%. For shareholders of record Feb. 01. Payable Mar. 01. Ex-div date Jan. 30. (PR)
    | 2 Comments
  • Jan. 22, 2013, 4:38 PM
    Wells Fargo (WFC) ups its quarterly dividend to $0.25/share from $0.22. The yield rises to 2.85%. The increase is part of the capital return plan approved by the Fed last March. This year's capital plan was submitted for Fed review on January 4. (PR)
    | 2 Comments
  • Jan. 18, 2013, 8:49 AM
    A year after losing out in the bidding for RBS' aircraft-leasing unit, Wells Fargo (WFC) is starting its own far-smaller effort, teaming with Ireland's Avolon to build an initial fleet of 10 jets valued at $500M. Avolon chief Domhnal Slattery speaks of a "void" in the sector due to capital-strapped EU banks pulling out of the business.
    | 2 Comments
  • Jan. 14, 2013, 7:47 AM
    Wells Fargo (WFC) is cut to Hold at Oppenheimer, the firm making a valuation call, and saying there's more upside in names likes Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), and KKR. Wells -0.5% premarket.
    | 1 Comment
  • Jan. 11, 2013, 10:53 AM
    Wells Fargo (WFC) will indeed request permission from the Fed for a bigger capital return in 2013, says CFO Tim Sloan on the conference call. Q4 repurchases (42M shares) were not returns as they were done mostly to offset employee stock awards. A theme of the call: The bank has too much money and nowhere to profitably invest it. One popular way - mortgage lending - looks to be slowing, with $125B issued in Q4, down from $139B in Q3. Shares -1.6%, with the rest of the banks following. (earnings)
    | 3 Comments
  • Jan. 11, 2013, 10:30 AM
    More on Wells Fargo (WFC) Q4 earnings: The bank's share of this week's foreclosure settlement is $766M, mostly reserved for in Q4. The settlement will save the bank $125M/quarter going forward as it ends a foreclosure review program. The conference call is underway, with the Q&A about to begin. Earnings supplement.
    | 1 Comment
  • Jan. 11, 2013, 8:19 AM
    More on Wells Fargo (WFC) Q4 earnings: The margin squeeze continues with net interest income of $249M, -2% Y/Y thanks to a 10 bp decline to 3.56% in net interest margins. Net charge-offs of 1.05% of loans vs. 1.21 in Q3 were higher than otherwise thanks to just-issued OCC guidance. Tier 1 common equity ratio of 8.18% under Basel III. 42M shares repurchased in Q4. Shares -0.8% premarket. (PR)
    | 2 Comments
  • Jan. 11, 2013, 8:05 AM
    Wells Fargo & Company (WFC): Q4 EPS of $0.91 beats by $0.02. Revenue of $21.9B (+7% Y/Y) beats by $600M. (PR)
    | 1 Comment
  • Jan. 11, 2013, 12:05 AM
    Notable earnings before Friday’s open: WFC
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  • Jan. 10, 2013, 5:30 PM
    Notable earnings before Friday’s open: WFC
    | 1 Comment
  • Jan. 10, 2013, 8:23 AM
    "The banks will not get this country in trouble, I guarantee it," says major bank investor Warren Buffett. "The capital ratios are huge, the excesses on the asset side have been largely cleared out," he adds, seemingly making more of a case for the debt and the preferred, rather than the common equity. He's in no hurry to convert his Bank of America (BAC) preferred and says if the bank wants to call it, it's free to do so.
    | 12 Comments
  • Jan. 10, 2013, 4:24 AM
    JPMorgan's (JPM) share of the $8.5B settlement over foreclosure abuse between 10 banks and regulators is $2B, with the company saying it will take a $700M pretax charge in its Q4 results. The charge shows how banks pushed to close the deal so they could include the costs in their upcoming reports using "subsequent-events" accounting rules, allowing them to start 2013 with a cleaner slate.
    | 2 Comments
WFC vs. ETF Alternatives
Company Description
Wells Fargo & Co is a diversified financial services company. It provides retail, corporate and commercial banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions.
Sector: Financial
Country: United States