We recently published a list of Jim Cramer Discussed These 18 Stocks As Inflation Dropped. In this article, we are going to take a look at where Wells Fargo & Company (NYSE:WFC) stands against other stocks that Jim Cramer discussed as inflation drops.
The Wells Fargo CEO said the incoming administration signaled a "more business-friendly approach to policies and regulations."
Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.
Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf continues to whittle headcount as part of broader efforts to slash costs and remake the bank.
The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted not to settle.
Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law.
The Office of the Comptroller of the Currency banned the bank’s former community bank group risk officer for life, among other penalties handed down Tuesday.
Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A year earlier, the bank reported profit of 86 cents a share. Net interest income,
Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would mean for the bank's growth strategy.
Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.
We recently published a list of Jim Cramer Discussed These 18 Stocks As Inflation Dropped. In this article, we are going to take a look at where Citigroup Inc.