Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector newsTweets 

Wells Fargo : Credit card applications drop at Wells Fargo in February

share with twitter share with LinkedIn share with facebook
share via e-mail
03/20/2017 | 06:28pm CEST
FILE PHOTO -  Wells Fargo branch in the Chicago suburb of Evanston Illinois

Wells Fargo & Co saw a drop in consumers opening checking and credit card accounts in February, the bank said on Monday, marking the sixth straight month of decline since a sales scandal rocked the bank last year.

Consumers opened 3 percent fewer checking accounts from January, and 43 percent, or 0.3 million, fewer compared with February 2016, according to a company statement.

Requests for new credit cards saw a 4 percent monthly decline and a 55-percent drop on a yearly basis, its highest rate since illegal sales practices at its retail branches surfaced in September 2016.

"It will take time for us to work through the changes we are making in our business, but we remain focused on strengthening our relationships with existing customers and building new ones with potential customers," Mary Mack, Wells Fargo's head of community banking, said in the statement.

Wells Fargo has been reporting each month on customer activity at its branch banking unit since it reached a $185 million settlement with regulators in September over creating as many as 2.1 million accounts in customers' names without their permission.

The third-largest U.S. bank has since encountered more government probes and lawsuits, and its board recently said an internal review may uncover more problematic accounts.

Overall branch interactions fell 1 percent from January and were down 11 percent on a yearly basis.

"After factoring in day count differences, February trends were generally similar to January's and were within our expectations," Mack added.

(Reporting by Tina Bellon; Editing by Bernadette Baum)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on WELLS FARGO
06/23 WELLS FARGO : Santa Rosa may sever ties with Wells Fargo
06/23 WELLS FARGO & COMPANY/MN : Financial Statements and Exhibits (form 8-K)
06/23 BB&T stress test projects loss BB&T projects $2.6B revenue loss in severe eco..
06/23 WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
06/22 WELLS FARGO : Releases Stress Test Results Under Dodd-Frank Act
06/22 WELLS FARGO : Mike Mayo to Join Wells Fargo Securities' Equity Research Team
06/22 WELLS FARGO : Millennials Make Greatest Gains in 401(k) Plan Participation
06/21 WELLS FARGO : Donates $500,000 for El Paso-Area Revitalization Efforts
06/20 WELLS FARGO : Five companies in stockbroker's high-risk recommendations includin..
06/20 U.S. banks, corporations establish principles for cyber risk ratings firms
More news
Sector news : Banks - NEC
06/23 INTESA SANPAOLO : Italy to pass emergency decree on Veneto banks after EU green ..
06/23 Goldman Sachs global head of equity markets to retire
06/23 LLOYDS BANKING : Bank of England financial crisis liquidity auctions cleared by ..
06/23 CANADIAN IMPERIAL BANK OF COMMERCE : Canada's CIBC completes $5 billion PrivateB..
06/23 China's ICBC says checks of loans to big acquirers are routine
More sector news : Banks - NEC
News from SeekingAlpha
06/23 SELL-SIDE : Stress tests a positive for the banks
06/22 RETURN ON ASSETS : How To Find Banks That Generate Profits
06/22 Big Cuts Are Coming To Sell-Side Research
06/22 Here come the Fed's stress tests
06/20 DIVGRO PULSE : June 2017
Financials ($)
Sales 2017 90 651 M
EBIT 2017 34 134 M
Net income 2017 20 919 M
Debt 2017 -
Yield 2017 2,98%
P/E ratio 2017 12,67
P/E ratio 2018 11,66
Capi. / Sales 2017 2,89x
Capi. / Sales 2018 2,78x
Capitalization 262 309 M
More Financials
Duration : Period :
Wells Fargo Technical Analysis Chart | WFC | US9497461015 | 4-Traders
Full-screen chart
Technical analysis trends WELLS FARGO
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 31
Average target price 57,2 $
Spread / Average Target 9,0%
Consensus details
EPS Revisions
More Estimates Revisions
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-4.75%262 309
JP MORGAN CHASE & COMP..0.96%309 165
BANK OF AMERICA3.76%228 197
BANK OF CHINA LTD5.23%195 357
More Results