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29

Wells Fargo

WFC

This wagon is stuck. Nearly three years after a fake accounts scandal that cost consumers millions, the banking giant is still in cleanup mode (while its peers, buoyed by a strong economy, have been cleaning up). In 2018 alone, Wells Fargo came to a $1 billion settlement for misconduct in its auto and mortgage lending business. Now, under constant scrutiny from regulators, the bank that has historically promoted from within is seeking new leadership. It won’t be an easy job: ex-CEO Tim Sloan spent much of his two-year tenure on an apologetic redemption tour, and that wasn’t enough to keep his post. With a tightening yield curve that is expected to press on income, and a cap on assets imposed by the Federal Reserve in the wake of its scandals, 2019 will likely continue to be a difficult year for Wells Fargo. One bright spot for investors: Wells has been buying back stock, to the tune of $7 billion in the fourth quarter alone.

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CEO

C. Allen Parker

CEO Title

Interim Chief Executive Officer & Director

Sector

Financials

Industry

Commercial Banks

HQ Location

San Francisco, Calif.

Years on Fortune 500 List

25

Employees

258,700

Key Financials (Last Fiscal Year)
$ millions% change
Revenues ($M)$101,0603.4%
Profits ($M)$22,393.00.9%
Assets ($M)$1,895,883
Total Stockholder Equity ($M)$196,166
Profit Ratios
Profit as % of Revenues22.2%
Profits as % of Assets1.2%
Profits as % of Stockholder Equity11.4%
Earnings Per Share (Last Fiscal Year)
Earnings Per Share ($)4.28
EPS % Change (from 2017)4.4%
EPS % Change (5 year annual rate)1.9%
EPS % Change (10 year annual rate)19.8%
Total Return
Total Return to Investors (2018)-21.8%
Total Return to Investors (5 year, annualized)3.2%
Total Return to Investors (10 year, annualized)7.3%
STOCK QUOTE
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  • Market Cap: NaNB
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  • 52 Week Change %: 0.00
  • P/E Ratio: n/a
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  • Dividend Yield: n/a

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