Word: wellses
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Shares of Wells Fargo, which uses a red horse-drawn carriage as its corporate mascot, have risen nearly 200%, to $24 per share, in less than three months. And while the stocks of all banks are up over that period, Wells Fargo's increase is more than double the rise...
But Bank of America and Citigroup are not alone in needing to make changes. At Wells Fargo, only four of that bank's 17 independent board members have a background in the financial-services industry. And even among that group, only two have been executives at a bank. Fifth Third...
Which banks will show strongest performance? It depends upon your time horizon. If you are looking for the next three to five years we would be looking at those that have management transparency and credibility, and where management has been able to deliver results. Now there is also what we...
When the results of the government's financial stress tests were announced last week, Citigroup seemed to have dodged a bullet. The bank, long thought to be in the worst shape among the nation's largest lenders, was said to need just $5.5 billion in capital in order to return...
In the stress tests, the government said it decided to emphasize common capital because that was the measure that ultimately leads to "lowering the risk of insolvency." Citi's common capital ratio, at just 2.3%, was closer to zero than any other of the banks the government looked at. State...