Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Wells Fargo & Co    WFC

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Wells Fargo : Checking Account and Credit-Card Openings Keep Falling

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 05:55pm CEST
By Emily Glazer 

Wells Fargo & Co. said Monday that its customer checking-account and credit-card openings fell drastically in February versus a year earlier, a continuing trend for the bank following last year's sales-practices scandal.

The San Francisco-based bank said checking-account openings fell 43% year-over-year to around 300,000 while new credit-card applications fell 55% from a year-earlier to around 200,000.

But the bank did continue to make progress in average consumer and small-business deposit balances. These were up 6% year-over-year to $761.4 billion along with rises in credit-card purchase volume.

The bank's customer loyalty scores rose for the fourth consecutive month, at 57.6% but is still down from 62.1% a year earlier.

Wells Fargo has been reporting monthly customer metrics since its scandal erupted in September. The bank's chief executive, Timothy Sloan, said it is part of its "ongoing commitment to transparency." The bank will provide its next update in April.

Mary Mack, head of retail banking, added that it will take "time for us to work through the changes we are making in our business."

Write to Emily Glazer at emily.glazer@wsj.com

Corrections & Amplifications

This article was corrected at 2:30 p.m. ET because the original version incorrectly referred to the bank's consumer and small-business deposit balances as of February 2017 as $761.4 million, in the third paragraph. It should be $761.4 billion.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WELLS FARGO & CO
07:50p WELLS FARGO & COMPANY (NYSE : WFC) Files An 8-K Other Events
07:23p WELLS FARGO : failed test of community lending, bank says
07:13p WELLS FARGO & COMPANY/MN : Other Events, Financial Statements and Exhibits (form..
07:01p WELLS FARGO : Announces Community Reinvestment Act Rating
03/27 WELLS FARGO& COMPANY (NYSE : WFC) Files An 8-K Financial Statements and Exhibits
03/27 WELLS FARGO & COMPANY/MN : Financial Statements and Exhibits (form 8-K)
03/27 WELLS FARGO : Launches 13,000 Card-Free ATMs for Its 20 Million Mobile Customers
03/24 WELLS FARGO : Asset Management Wins Eight Lipper Fund Awards
03/24 WELLS FARGO : Jimmy Awards Announces Inaugural Inspiring Teacher Award Presented..
03/23 WELLS FARGO : Trademark Application for "PASO A PASO SE ALCANZAN LAS METAS" File..
More news
Sector news : Banks - NEC
05:59p FTSE climbs back led by miners, banks; Wolseley surges
05:43p ROYAL BANK OF SCOTLAND : RBS raises offer to settle 2008 cash call lawsuit
04:24pDJAGRICULTURAL BANK OF CHINA : 2016 Net Profit Up 1.8% to CNY183.94 Billion
02:15pDJUNION PACIFIC : The Battle to Keep Veterans From Quitting Corporate Jobs
01:17p EXCLUSIVE : Citigroup to seek bids for Asia general insurance distribution deal ..
More sector news : Banks - NEC
News from SeekingAlpha
01:30p Wells Fargo get a "Needs to improve" rating from OCC on CRA
12:00p THE GSES' BAILOUT IN PERSPECTIVE : Treasury's Greatest Investment
03/27 Banks look to save billions more with Project Scalpel
03/24 The View From The Top
03/23 Sectors To Overweight In 2017 + 3 Favorite Picks
Advertisement
Financials ($)
Sales 2017 91 994 M
EBIT 2017 36 220 M
Net income 2017 21 082 M
Debt 2017 -
Yield 2017 2,83%
P/E ratio 2017 13,22
P/E ratio 2018 12,03
Capi. / Sales 2017 3,01x
Capi. / Sales 2018 2,88x
Capitalization 277 164 M
More Financials
Chart WELLS FARGO & CO
Duration : Period :
Wells Fargo & Co Technical Analysis Chart | WFC | US9497461015 | 4-Traders
Full-screen chart
Technical analysis trends WELLS FARGO & CO
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 32
Average target price 58,1 $
Spread / Average Target 4,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Timothy J. Sloan President, Chief Executive Officer & Director
Stephen W. Sanger Non-Executive Chairman
John R. Shrewsberry Chief Financial Officer & Senior Executive VP
Scott Dillon Chief Technology Officer
Enrique Hernandez Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WELLS FARGO & CO0.51%277 164
JPMORGAN CHASE & CO.1.10%311 618
INDUSTRIAL AND COMMRCL..6.35%243 299
BANK OF AMERICA CORP4.21%230 575
CHINA CONSTRUCTION BAN..7.35%204 174
BANK OF CHINA LTD5.52%196 212
More Results