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Wells Fargo Reports Record Profit on Limited Defaults
" Wells Fargo & Co., the nation’s largest home lender, posted a record third-quarter profit by limiting loan defaults and wringing savings out of Wachovia Corp."
Wells Fargo Drops After Bove Questions Profit
Wells Fargo Drops After Bove Questions Profit
dealbook.blogs.nytimes.com — Shares of Wells Fargo fell 5.1 percent after Richard X. Bove, the outspoken banking analyst at Rochdale... Securities, cut his rating on the stock to "sell" on Wednesday afternoon, saying the bank's third-quarter profit of $3.2 billion was "unsustainable." (more) Wells Fargo Drops After Bove Questions Profit
Wells Fargo, JPMorgan Benefit From Mortgage-Servicing Hedging
hf-implode.com — " Wells Fargo & Co. earned almost a third of its pretax quarterly profit by hedging mortgage-... servicing rights, producing gains similar to those that have helped some of the biggest U.S. banks offset weaker consumer- lending businesses." (more) Wells Fargo, JPMorgan Benefit From Mortgage-Servicing ...
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Wells Fargo, Fifth Third Add to Predictions of Higher Defaults
hf-implode.com 9/16/2009 — " Wells Fargo & Co., the nation’s biggest home lender, expects unpaid loans to increase, adding to signs that the U.S. real-estate crunch will squeeze bank profits the rest of this year."
Wells Fargo Sues Wells Fargo, Wells Fargo Denies Allegations
calculatedriskblog.com 7/12/2009 — For a little Saturday night amusement ... From FoxBusiness: Wells Fargo Bank Sues Itself (ht Rama) ... I could not resist asking Wells Fargo Bank NA why it filed a civil complaint against itself in a mortgage foreclosure case in Hillsborough County, ...
Wells Fargo Buys Mortgage Bonds as Defaults Rise (Update1)
bloomberg.com 7/28/2009 — July 27 (Bloomberg) -- Wells Fargo & Co., the bank that boosted its U.S. property-related holdings by acquiring rival Wachovia Corp., is adding to those investments with purchases of mortgage-backed bonds, even as Federal Reserve Chairman Ben S. ...
Wells Fargo Expects $3 Billion Profit in First Quarter
dealbook.blogs.nytimes.com 4/10/2009 — Wells Fargo said early Thursday that it expects to report a profit of about $3 billion in the first quarter, offering an early look at its financial results ahead of the highly anticipated earnings season for the nation's banks. The company also said ...
Wells Fargo Takes Chance With a Loan Exchange
online.wsj.com 29 days ago — [wells fargo] Associated Press Wells Fargo's interest-only loans will defer balances for up to six to 10 years. Here, a Wells Fargo Home Mortgage location in Springfield, Ill.
Wells Fargo Sues Itself
businessinsider.com 7/12/2009 — shootinfoot tbi Dow Jones newswire columnist Al Lewis breaks the news that Wells Fargo is suing itself. ( Via Calculated Risk ) In this particular case, Wells Fargo holds the first and second mortgages on a condominium, according to Sarasota, Fla., ...
Wells Fargo: Things May Not Be Well at Wells
valueinvestingnews.com 2/21/2009 — I thought Bank of America (BAC) was strong enough to survive without cutting its dividend. This all changed with the announced acquisition of Merrill Lynch. Is this same situation playing out with Wells Fargo’s (WFC) acquisition of Wachovia?  ...
Wells Fargo: Things May Not Be Well at Wells
dividendsvalue.com 2/17/2009 — I thought Bank of America (BAC) was strong enough to survive without cutting its dividend. This all changed with the announced acquisition of Merrill Lynch. Is this same situation playing out with Wells Fargo’s (WFC) acquisition of Wachovia?
Wells Fargo Earns Record $3.05 Billion, $0.56 EPS
businesswire.com 4/22/2009 — SAN FRANCISCO--( BUSINESS WIRE )--Wells Fargo & Company (NYSE:WFC): Wells Fargo & Company (NYSE:WFC) reported diluted earnings per common share of $0.56 for first quarter 2009. Wells Fargo net income was a record $3.05 billion. “The best way to ...
Wells Fargo hiking its credit card rates
hf-implode.com 10/8/2009 — "Wells Fargo made $923 million in card fees in the quarter ended June 30, a figure that includes revenue from its debit cards. The bank does not provide detailed financial statements for its credit card division."
American banks : The pyramid principleThe Economist: Full print edition 10/22/2009
America’s big banks are getting healthier. The small fry are not JUDGED by their giant compensation bills, Wall Street’s banks are in fine fettle. But pay is one of the few numbers in their accounts it is easy to make sense of. The ...