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Patrick Sison — AP

25

Wells Fargo

WFC

Though it had little impact on the bank’s bottom line, a phony accounts scandal dominated 2016 for Wells Fargo, which continues to deal with the costs and fallout stemming from its aggressive sales tactics. (The company paid a $185 million fine and fired more than 5,000 employees who were found to have opened as many as 2 million unauthorized accounts for consumers. Former CEO John Stumpf also resigned in the wake of the scandal, replaced by company COO Tim Sloan.) Still, Wells Fargo grew sales almost 5% in 2016 as higher interest rates also benefited the bank, which is America’s largest retail mortgage and auto lender, with a larger loan portfolio than any of its U.S. peers. Despite the regulatory penalties, the bank’s profits fell just about 4% last year, preserving its place among the most profitable companies in the Fortune 500. Wells Fargo also recently announced plants to close more than 400 branches, following the rest of the industry’s shift away from brick-and-mortar banking in order to boost earnings.

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CEO

Timothy J. Sloan

CEO Title

President, Chief Executive Officer & Director

Sector

Financials

Industry

Commercial Banks

HQ Location

San Francisco, CA

Years on Fortune 500 List

23

Employees

269,100

Profile provided by S&P Global.
Wells Fargo is also featured in these fortune lists
Key Financials (Last Fiscal Year)
$ millions% change
Revenues ($M)$94,1764.6%
Profits ($M)$21,938.0-4.2%
Assets ($M)$1,930,115
Total Stockholder Equity ($M)$199,581
Market Value — as of March 31, 2017 ($M)$278,516
Profit Ratios
Profit as % of Revenues23.3%
Profits as % of Assets1.1%
Profits as % of Stockholder Equity11.0%
Earnings Per Share (Last Fiscal Year)
Earnings Per Share ($)3.99
EPS % Change (from 2015)-3.2%
EPS % Change (5 year annual rate)7.2%
EPS % Change (10 year annual rate)4.8%
Total Return
Total Return to Investors (2016)4.4%
Total Return to Investors (5 year, annualized)18.1%
Total Return to Investors (10 year, annualized)7.5%
STOCK QUOTE
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  • 52 Week Change %: 0.00
  • P/E Ratio: n/a
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  • Dividend Yield: n/a

News about Wells Fargo

A Leading U.S. Regulator Wants to Loosen the Leash on Wells Fargo

The initiative comes as President Donald Trump tries to lighten rules on Wall Street.

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Wells Fargo’s CEO Just Showed Us How to Handle an Elizabeth Warren Attack

The goal is not to win a Congressional hearing—it's to survive.

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Elizabeth Warren Demands That a Second Wells Fargo CEO Be Fired

The senator keeps slamming the bank over its phony accounts scandal.

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