Wells Fargo & Company (WFC) shares are trading slightly higher on Friday after the company announced quarterly dividends on several of its preferred stock series. The dividends are payable on December 16, 2024, and investors must be on record by November 29th to qualify. The stock has seen strong performance in the past year, fueled by investor optimism surrounding potential economic benefits under the Trump administration.
Bank of America Securities analyst Ebrahim H. Poonawala raised his price target on Wells Fargo & Company (WFC) to $84, citing the bank’s progress in achieving high-teens return on average tangible common equity (ROTCE). The analyst believes the removal of the 2018 asset cap in early 2025 will be a significant catalyst for the stock, attracting new investors and potentially driving a re-rating of its valuation.
Shares in the banking and financial services sector are surging on Friday, driven by positive third-quarter earnings reports from major players like JPMorgan Chase and Wells Fargo. This momentum has spread to other financial firms, including Apollo Global Management and Morgan Stanley, leading to record highs for the Financial Select Sector SPDR Fund (XLF).
Wells Fargo (WFC) reported solid earnings for the third quarter of 2024, exceeding analysts’ expectations for both revenue and earnings per share. While the company experienced a slight year-over-year revenue decline, key metrics like net loan charge-offs, return on assets, and return on equity showcased robust performance, indicating strong financial health.
Wells Fargo is set to release its third-quarter earnings on Friday, October 11th. While analysts predict a decline in earnings compared to last year, recent analyst ratings and price target adjustments offer insights into the bank’s future prospects. This article analyzes recent analyst actions and highlights key factors influencing Wells Fargo’s performance.
U.S. stock futures are slightly lower this morning, and investors are anticipating earnings releases from major companies like JPMorgan Chase, Wells Fargo, and Fastenal. Learn about their projected earnings and stock movements in after-hours trading.
Amazon’s stock took a hit on Monday after Wells Fargo downgraded its rating and a federal judge allowed the FTC’s antitrust lawsuit against the company to proceed. The analyst cited slowing growth and increased competition, while the FTC accuses Amazon of anti-competitive practices.
Wells Fargo stock experienced a dip on Monday after a brief surge following the Federal Reserve’s unexpected rate cut. While the initial reaction was positive due to potential benefits for the bank, concerns about the long-term impact of lower interest rates and a weakening economy led to a pullback.
Ryan Cohen, chairman and CEO of GameStop, has been fined $985,320 by the Federal Trade Commission for violating the Hart-Scott-Rodino Act during his acquisition of Wells Fargo shares in 2018. Cohen failed to file the necessary paperwork, resulting in an acquisition exceeding HSR filing thresholds and triggering the need for antitrust review. The FTC’s investigation found that Cohen’s actions were not exempt under the Investment-Only Exemption, as he sought to influence Wells Fargo’s operations. Cohen ultimately made a corrective filing in January 2021.
Jim Cramer shared his thoughts on Wells Fargo, Iron Mountain, Palantir, and PG&E during CNBC’s ‘Mad Money Lightning Round’. He recommended buying Wells Fargo and PG&E, while expressing caution about Iron Mountain and considering Palantir a ‘cold’ stock.
