Wells Fargo Profit Rises
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In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with commercial bankers for a 10% increase in new assets.
Shares of Wells Fargo & Co. fell in early Tuesday, after the bank reported second-quarter profit and revenue that rose above expectations but missed on net interest income (NII) and cut its full-year growth outlook.
Employees rallied in Charlotte on Tuesday to call attention to allegations that a senior HR exec at the bank is coercing workers to decertify their union.
Wells Fargo & Company (NYSE:WFC) is one of the Best Large Cap Value Stocks to Invest In. Raymond James downgraded the company’s stock from “Outperform” to “Market Perform,” noting the limited upside potential.
Bank leaders pose at their first earnings call since federal regulators ended the $2 trillion asset cap tied to a bank sales scandal.
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Chris McGratty, Keefe Bruyette and Woods' Head of US Bank Research, talks about Wall Street traders like JPMorgan Chase & Co. and Citigroup setting records in spite of market volatility, as well as private credit becoming an "increasingly formidable" competitor with banks.
Michael Santomassimo, Wells Fargo CFO, joins 'Money Movers' to discuss the company’s earnings, the change in interest rates impact on business and loan growth.