Word: wellses
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Analyst Ed Najarian, who follows bank stocks at independent research firm ISI Group, says Wells will weather the current economic crisis better than its rivals, but that investors shouldn't take much comfort in that. "We think Wells' earnings may be lower than expected in the second half of this...
To be sure, Wells Fargo still has plenty of fans, and its bottom line has held up better than expected - the bank's first-quarter earnings of $3 billion were up 50% over the prior year's first quarter, despite a tough economy. Executives at Wells are also reassuring investors...
At least one prominent investor thinks Wells is doing something right. Warren Buffett's Berkshire Hathaway bought nearly 12.4 million shares of Wells Fargo stock in the first quarter, upping its stake to just over 300 million shares. In early May, Buffett told attendees at his firm's annual meeting...
But Buffett and other investors may be putting too much faith in the bank management's ability to gauge future loan losses, something no major bank has gotten right during this downturn. And if there's even a bit of disappointment, Wells Fargo shares have further to fall than its...
With unemployment rising and house prices continuing to fall, Wells' unpleasant earnings news could persist past the end of the year. Bank examiners in the recent government stress tests estimated that Wells Fargo will have as much as $86 billion in loans that go unpaid over the next two years...