Latest news with #BernsteinConference
Yahoo
30-05-2025
- Business
- Yahoo
Wells Fargo's CEO Shows Confidence Over $1.95T Asset Cap Potential End
On Wednesday, at the Bernstein Conference, Wells Fargo & Company's WFC CEO Charlie Scharf expressed confidence in the bank's regulatory improvements, signalling that the bank is inching closer to the point of lifting the $1.95 trillion asset cap. In 2018, the Federal Reserve imposed the asset cap on Wells Fargo following the bank's fake accounts scandal, which surfaced in 2016. The asset cap was introduced as a penalty for governance failures, restricting the bank's ability to expand its balance sheet until it demonstrated sufficient improvements in risk management and compliance. During the Bernstein conference, Scharf highlighted Wells Fargo's continued efforts to strengthen its compliance framework. The bank has resolved six consent orders in 2024, bringing the total number of resolved regulatory actions since 2019 to 12. It has also allocated $2 billion annually to enhance risk controls and operational processes. The bank is working to address the final two remaining consent orders. As the bank nears resolution, it is actively preparing to expand its retail deposits business, positioning itself for a new phase of growth once restrictions are lifted. Due to the asset cap, the company is unable to grow to its potential. This is affecting its loan growth. Given that loans are among the largest assets a bank can hold, the lifting of the asset cap will mark a positive turning point for Wells Fargo. This move will allow the bank to offer loans without restrictions, supporting the top-line expansion and positioning the bank for long-term growth. Further, WFC's long-term strategy remains focused on expanding deposits and trading operations, reinforcing growth through continued compliance enhancements and operational improvements. Additionally, the bank is taking a strategy centered on balancing sustainable growth with robust returns, aiming to achieve a return on tangible common equity (ROTCE) of 15% in 2025. The bank's strategy includes organic expansion, with a focus on dividend increases and share buybacks to enhance capital efficiency. To further support its growth objectives, the bank is making significant investments in technology and artificial intelligence, aimed at streamlining operations, improving risk management, and driving future business development. Over the past year, shares of WFC have gained 24.1% compared with the industry's growth of 28.2%. Image Source: Zacks Investment Research Wells Fargo currently carries a Zacks Rank #3 (Hold). Some better-ranked bank stocks are Westamerica Bancorp WABC and Eastern Bankshares EBC, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for WABC's earnings has remained unchanged over the last seven days for 2025. Shares of WABC have gained 0.2% over the past six months. Earnings estimates for EBC have remained unchanged over the past seven days for 2025. In the past six months, EBC shares have gained 10.5%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report Westamerica Bancorporation (WABC) : Free Stock Analysis Report Eastern Bankshares, Inc. (EBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data
Bloomberg
29-05-2025
- Business
- Bloomberg
Goldman's Waldron Says Bond Traders Fear Debt More Than Tariffs
Bond traders are becoming increasingly spooked by mounting levels of US government debt — and it's now a concern that holds more risk than tariffs, according to Goldman Sachs Group Inc. 's president. 'While all the attention was on tariffs, I think the attention rightly is shifting — certainly in the bond market — to the US budget debate and the fiscal picture, which I would characterize as somewhat concerning,' John Waldron said at a Bernstein conference Thursday. 'I think the big risk on the macro right now is actually not so much tariffs.'
Associated Press
28-05-2025
- Business
- Associated Press
Southwest Airlines to Present at the Bernstein Strategic Decisions Conference
DALLAS, May 28, 2025 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) has been invited to speak at the Bernstein Strategic Decisions Conference. Bernstein will be webcasting the audio presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast are as follows: To access the live audio webcast and subsequent replay, click on the link above, or go to and click on 'Investor Relations' under the 'About Southwest' menu at the bottom of the page. The audio webcast can be found under 'News & Events' in the drop down menu. View original content: SOURCE Southwest Airlines Co.
