Founded by Henry Wells and William Fargo in 1852, Wells Fargo, New York symbol WFC, provides a wide variety of financial services in the U.S. Internationally, it operates in Canada, the Caribbean and Central America. Wells Fargo’s corporate headquarters is now located in San Francisco.
In terms of market value, Wells Fargo is the largest bank in the world and one of the four big banks in the United States. The three other banks include Bank of America, JPMorgan Chase, and Citigroup. Wells Fargo operates through three divisions: Community Banking provides mortgages, loans, credit cards and other financial services; Wholesale Banking supplies business loans; and Wealth, Brokerage and Retirement offers wealth management, brokerage and trust services to individuals and institutions, such as pension plans.
With 95% of its revenues coming from the U.S., Wells Fargo stands to benefit from a recovering American economy, and from the higher interest rates that are likely in the future. Wells Fargo is financial institution that all investors should keep tabs on if they’re interested in the U.S. financial markets. At TSI Network we especially like Canadian Banks and we also recommend using our three-part Successful Investor philosophy for investing:
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J.P. MORGAN CHASE & CO., $185.80, New York symbol JPM, is a buy.
Morgan is the largest banking firm in the U.S., with total assets of $4.09 trillion as of March 31, 2024.
With the April 30, 2024, payment, Morgan will increase your quarterly dividend by 9.5%, to… Read More
This section is the second part of our discussion on ETFs that represent each of the five main economic sectors. Here we cover ETFs in the Consumer, Manufacturing and Finance sectors.
Please see the supplement section starting on page 49 for more information on our five-sectors… Read More
Due to higher interest rates, these two leading U.S. banks continue to set aside more funds to cover potential future loan losses. At the same time, they are earnings more interest income on their loans. Despite higher rates, loan demand remains steady, which should let… Read More
J.P. MORGAN CHASE & CO., $170.31, New York symbol JPM, is a buy.
Morgan is the largest banking firm in the U.S., with total assets of $3.89 trillion as of December 31, 2023.
In May 2023, the bank acquired most of the assets and deposits of failed California-based… Read More
In response to rising inflation in the wake of the COVID-19 pandemic, the U.S. Federal Reserve increased its benchmark interest rate from 0.25% in March 2022 to 5.25% in July 2023. The hike has helped cut the inflation rate from 9.1% in June 2022 to… Read More
While higher interest rates are increasing the potential for future loan losses at these two U.S. banks, they are also earnings more on new loans. In fact, both just raised their dividends, which is a sign of confidence.
J.P. MORGAN CHASE & CO. $140 is a.. Read More
These two leading U.S. banks recently passed the Federal Reserve’s latest stress test, which measures how financial firms would cope with a jump in unemployment, falling stock prices and other unfavourable developments. As a result, they both raised their dividends. Higher interest rates have also… Read More
Many financial stocks, and especially banks, suffered big drops in early 2023. That was after the high-profile failures of several U.S. regional banks, including Silicon Valley Bank.
Going forward, the outlook for Canadian banks is more stable than for U.S. banks. That’s due to more-conservative regulators… Read More
Concerned about the vulnerability of U.S. regional banks, some depositors have shifted to the country’s biggest banks, particularly J.P. Morgan and Wells Fargo. Their migration comes despite government actions to calm depositors’ fears. Still, the additional deposits for the big banks are likely to stick… Read More
PROCTER & GAMBLE CO., $156.07, New York symbol PG, is a top pick for 2023.
The company is one of the world’s largest makers of household and personal-care goods. Its major brands include Tide (laundry detergent), Pampers (diapers), Gillette (razors), Crest (toothpaste) and Vicks (cold remedies).
Procter will… Read More
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