Hints and tips:
...Lloyds and Wells Fargo make an interesting comparison, and again Lloyds is tempting....
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...As well as his vineyard, Collardi has, in 24 months, struck out in a range of new directions....
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Friday March 17: A deposit injection of $30bn into First Republic by JPMorgan, Citigroup, Wells Fargo and others was an intelligent attempt to calm market panic, we reckoned....
...The day ahead Bank earnings Goldman Sachs, Citigroup, Wells Fargo and Morgan Stanley are the latest banks to report earnings....
...The FT’s Edward White discusses his odds of turning things round on the latest episode of Behind the Money....
...“The global technology spend at around $12bn, that’s an astonishing number,” said James Shanahan, an analyst with Edward Jones....
..., analyst at Edward Jones....
...Pressure group Majority Action targeted Wells Fargo chair Charles Noski (pictured) at the bank’s annual meeting....
...“Banks want to diversify and find additional revenue streams outside of lending when interest rates are so low,” said Kyle Sanders, analyst at Edward Jones....
...Kyle Sanders, analyst at Edward Jones, said a cap on Wells’ balance sheet — imposed in response to the mis-selling scandal — “is a huge disadvantage with Covid: the other banks are growing loans to compensate...
...He said he expected dividend payments to largely be flat overall this year, and a dividend cut is already factored into Wells Fargo’s share price....
...Nearly a fifth of companies in the S&P 500 have put repurchase programmes on ice since March, including large commercial banks like Bank of America, Wells Fargo and JPMorgan Chase — typically among the biggest...
...A master servicer is appointed to collect the payments and deliver them to the trust. There are three main master servicers in the US — Wells Fargo, KeyBank and Midland Loan Services....
...Edward Jones analyst James Shanahan said he expected Bank of America to report similar trends to JPMorgan’s when it announces earnings on Wednesday morning....
...Bank of England governor Andrew Bailey maps a depression that is “V-shaped”. OECD secretary-general Ángel Gurría thinks the valley is “more like a U”....
...Economists say a V-shaped recovery is unlikely. Even then it could be two Vs stuck together – a W, in other words....
...“I am nervous that he may have missed this whole rally,” said James Shanahan, an analyst with Edward Jones....
...Wells is particularly sensitive to declining interest rates, and its net interest income fell by almost $1bn. Kyle Sanders, an analyst at Edward Jones, called the result “pretty weak”....
...The Fed agreed to “temporarily” lift Wells Fargo’s asset cap so that the bank can lend more to customers. Democrats, meanwhile, have set out new demands for coronavirus stimulus....
...(FT) Top level departures at Wells Betsy Duke, chairman of Wells Fargo, and James Quigly, head of the bank’s audit and risk committee, have both resigned ahead of a scheduled appearance before the Democrat-controlled...
...Citigroup delivered stronger than expected revenue growth, driven by consumer banking and fixed-income trading, while overhead costs dragged down revenue at Wells Fargo....
...Edward Jones, said in a note to clients....
...“The key takeaway was net interest income expansion [in retail], driven by interest margin expansion and moderate loan growth,” said Jim Shanahan, a bank analyst at Edward Jones....
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