WFC Stock Recent News

Does Wells Fargo (WFC) have what it takes to be a top stock pick for momentum investors? Let's find out.

WFC's efforts to reduce costs and progress in fixing compliance issues look encouraging. Let us find out whether the stock is worth investing in.

Banks such as JPMorgan, Citi, and Goldman Sachs started the earnings season off on a positive note when all beat expectations on the top and bottom lines. The pre-peak Late Earnings Report Index fell to its lowest level in a year, signaling corporations are feeling more certain about growth prospects as they start 2025. Q4 S&P 500 EPS growth is expected to come in at 12.5%, the highest growth rate in three years.

Last week witnessed the releases of most big bank earnings of this season. Results were upbeat.

Here are four PEG-driven value stocks, WFC, EXEL, DAL and GBX, which qualify our screening criteria.

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) announced today that Ed Olebe has been named the company's new head of Cards and Merchant Services, effective immediately. Olebe joins Wells Fargo from JPMorgan Chase, where he served as president of Branded Cards. “Ed's industry expertise and deep experience will be invaluable to Wells Fargo as we continue to grow our credit card business and expand our payment capabilities across Merchant Services,” said Kleber Santos, CEO.

Wells Fargo exceeded Q4 earnings expectations, driven by strong investment banking performance and a 1.2% Q/Q increase in net interest income. Despite an improved net interest income outlook for FY 2025, I maintain a hold rating due to Wells Fargo's high valuation relative to book value. Wells Fargo's balance sheet quality remained solid with declining credit provisions, but commercial real estate exposure poses some risk.

TV and WFC made it to the Zacks Rank #1 (Strong Buy) income stocks list on January 20, 2025.

The financials sector is showcasing a strong earnings performance this season, as major banks Bank of America (BAC), Morgan Stanley (MS), Citigroup (C), JPMorgan Chase & Co. (JPM), Goldman Sachs (GS), and Wells Fargo (WFC) reported a combined 19% increase in net income for 2024. CFRA Research Director of Global Fundamental Research Ken Leon joins Market Domination to offer his analysis on the banking industry's outlook.

Two Wells Fargo advisory firms and Merrill Lynch have agreed to settle Securities and Exchange Commission (SEC) charges that they violated Advisers Act rules relating to their cash sweeps programs.