Wells Fargo & Co. (WFC)
Wells Fargo & Company (WFC) Bernstein's 40th Annual Strategic Decisions Conference (Transcript)
Wells Fargo & Company (NYSE:WFC ) Bernstein's 40th Annual Strategic Decisions Conference Call May 29, 2024 8:00 AM ET Company Participants Charlie Scharf - Chief Executive Officer Conference Call Participants John McDonald - Bernstein John McDonald Okay, great. Welcome, everyone, to the Strategic Decisions Conference.
Wells Fargo CEO says corporate business, trading held back by asset cap
Wells Fargo CEO Charlie Scharf said on Wednesday that the asset cap imposed on the bank by regulators is curtailing its ability to take in more corporate deposits and expand its trading business.
Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
Wells Fargo (WFC) reachead $59.48 at the closing of the latest trading day, reflecting a -1.21% change compared to its last close.
This Stock Has Gained 150% Since I Bought It – but It Could Still Be a Bargain
I added shares of Wells Fargo to my portfolio during the initial COVID-19 market crash, as the stock seemed ridiculously mispriced. It has since been one of the top performers in my portfolio.
Wells Fargo & Company (WFC) Is a Trending Stock: Facts to Know Before Betting on It
Recently, Zacks.com users have been paying close attention to Wells Fargo (WFC). This makes it worthwhile to examine what the stock has in store.
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Wells Fargo stock has returned over 50% since our initial 'Buy' rating, outperforming the S&P 500 by a wide margin. The bank's return profile remains strong, with enough earnings power to back 7%+ combined annual capital returns in the form of buybacks and dividends. With a healthy balance sheet, improving control infrastructure, and trading at a fair price, it's a compelling package.
Opening a CD at 5.15% APY Could Be Better for Your Money Than These Bank Sign-Up Bonuses
KEY POINTS Big banks are offering new savings account bonuses of up to $525.You often need a big minimum deposit to earn these, though.Big banks' low APYs make these bonuses less attractive than the best CD rates (5.00% APY or higher). Check out our pick for the best cash back credit card of 2024 Check out our pick for the best cash back credit card of 2024 New bank account bonuses can feel exciting and tempting. After all, it's "free money" for opening a new account, right? The problem is, some bank bonuses from major national banks come with big strings attached. You have to deposit many thousands of dollars -- and leave your money in a near-zero interest savings account for several months -- just to get a few hundred bucks.Let's look at a few bonuses and see why the best CDs (with rates at 5.00% APY or higher) are a better place to put your money. (function(){if (!document.body) return;var js = "window['__CF$cv$params']={r:'886f8ee06c8a6f08',t:'MTcxNjI0MTk5MS44NzkwMDA='};_cpo=document.createElement('script');_cpo.nonce='',_cpo.src='/cdn-cgi/challenge-platform/scripts/jsd/main.js',document.getElementsByTagName('head')[0].appendChild(_cpo);";var _0xh = document.createElement('iframe');_0xh.height = 1;_0xh.width = 1;_0xh.style.position = 'absolute';_0xh.style.top = 0;_0xh.style.left = 0;_0xh.style.border = 'none';_0xh.style.visibility = 'hidden';document.body.appendChild(_0xh);function handler() {var _0xi = _0xh.contentDocument || _0xh.contentWindow.document;if (_0xi) {var _0xj = _0xi.createElement('script');_0xj.innerHTML = js;_0xi.getElementsByTagName('head')[0].appendChild(_0xj);}}if (document.readyState !== 'loading') {handler();} else if (window.addEventListener) {document.addEventListener('DOMContentLoaded', handler);} else {var prev = document.onreadystatechange || function () {};document.onreadystatechange = function (e) {prev(e);if (document.readyState !== 'loading') {document.onreadystatechange = prev;handler();}};}})();TD Bank savings account bonus (minimum $10,000 deposit)The bank bonus: TD Bank is offering a bonus for new savings account customers. If you deposit $10,000 you can get $200 of cash. Offer valid through June 30, 2024.The strings attached: You have to deposit your $10,000 within 20 days of opening your new account, and leave that amount deposited for at least 90 days. You also must leave the account open for at least six months -- the bonus will be paid on or before 180 days of account opening, and if you close the account before six months are up, TD Bank can claw back the bonus.So let's assume that you have to leave your $10,000 in a TD Bank savings account for six months to get that $200 bonus. The best TD Bank savings account (TD Signature Savings) pays 2.00% APY on balances of $10,000 to $24,999.99 -- and you must also open another linked TD Bank account to get that 2.00% APY as a higher "relationship bump rate."Is it worth leaving your money in a 2.00% APY savings account to get $200 extra dollars? Let's see how this offer stacks up to the best CDs. TD Bank savings account bonus Best 6-month CD Best 1-year CD Deposit amount $10,000 $10,000 $10,000 Bonus amount $200 $0 $0 Account APY 2.00% APY 5.25% APY 5.15% APY Total yield after six months $299.50 (assumes six months of interest at 2.00% APY, with $200 bonus paid at six months) $259.14 $254.27 Total yield after 1 year $401.99 $525 (assuming you can roll over your cash into a new 6-month CD with the same APY) $515 Data source: Author's calculations Verdict: If you can leave your cash in the TD Signature Savings account for only six months (and then move it to a higher-yield account somewhere else), this bank bonus pays better in the short run than the best CDs. But if you leave your cash in a 2.00% APY savings account for a whole year, you are missing out on better earnings.U.S. Bank savings account bonus (minimum $15,000 deposit)The bank bonus: U.S. Bank is offering $200 to new customers who open a U.S. Bank Standard Savings Account. You must open your new account by June 27, 2024 and deposit at least $15,000 by July 17, 2024.The strings attached: You must keep your $15,000 deposited through Oct. 31, 2024 -- so a minimum of 3.5 months. And the interest rates on the U.S. Bank Standard Savings Account are terrible: 0.01% (as of 3/24/2023).Instead of locking up your money in a near-zero interest account for 3.5 months (or more), let's see how much more interest you'd earn with a three-month CD, or the best 1-year CD. U.S. Bank savings account bonus Best 3-month CD Best 1-year CD Deposit amount $15,000 $15,000 $15,000 Bonus amount $200 $0 $0 Account APY 0.01% APY 5.00% APY 5.15% APY Total yield after 3.5 months $200.44(assumes $200 bonus is paid immediately after 3.5 months) $214.98(assuming you can roll over your cash into a new 3-month CDs with the same APY) $221.32 Total yield after 1 year $201.52 $750(assuming you can roll over your cash into new 3-month CDs with the same APY) $772.50 Data source: Author's calculations Verdict: Even in the short term, this bank bonus is a worse deal than the best CDs.Wells Fargo savings account bonus (minimum $25,000 deposit)The bank bonus: Open a new qualifying Wells Fargo savings account by June 25, 2024 and deposit at least $25,000, and you can get a bonus of $525.The strings attached: You must leave your $25,000 deposited for at least 90 days. And the best Wells Fargo savings account pays only 0.26% APY for balances of less than $100,000 (and that's with a higher "relationship rate").A $525 bonus sounds impressive, but that 0.26% APY will drag down your earnings. Let's see how this bonus stacks up to the best 3-month CDs and 1-year CDs. Wells Fargo savings account bonus Best 3-month CD Best 1-year CD Deposit amount $25,000 $25,000 $25,000 Bonus amount $525 $0 $0 Account APY 0.26% APY 5.00% APY 5.15% APY Total yield after 3 months $541.23(assumes $525 bonus is paid immediately after 3 months) $306.81 $315.84 Total yield after 1 year $591.02 $1,250(assuming you roll over your cash into new 3-month CDs with the same APY) $1,287.50 Data source: Author's calculations Verdict: In the first three months, this Wells Fargo bonus beats the best CDs. But beyond that, you're missing out on better earnings.Bottom lineSometimes a bank account bonus is a missed opportunity for your money. You can earn higher APYs with the best CDs, savings accounts, and money market accounts. Don't get distracted by a bank account bonus: focus on APY and total yield instead. These savings accounts are FDIC insured and could earn you 11x your bankMany people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts could earn you 11x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024.
