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John Stumpf

Wells Fargo Q1 Beats Earnings Estimates

Wells Fargo & Co. reported its first-quarter profit rose by 14% to $5.9 billion, or $1.05 a share, from $5.2 billion, or 92 cents a share a year ago. Revenue fell to $20.6 billion, from $21.26 billion a year earlier, the bank said Friday. Analysts had expected earnings of 97 cents on revenue of $20.6 billion, according to FactSet. The company said net interest income fell in the quarter, due to fewer days in the quarter compared to the previous quarter. Wells Fargo reported total loans of $823.8 billion, up $27.1 billion from a year ago, as well as net charge-offs of $825 million, down $594 million from a year ago. "As we move forward in 2014, I am optimistic about the opportunities ahead and believe that we are well positioned for growth," said CEO John Stumpf. Wells Fargo shares pared losses, but were down 0. 20% in premarket trading.Copyright © 2014 MarketWatch, Inc....

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  1. Wells Fargo Unveils 1Q Beat But Sales Fall Short

    Led by ramped up cost-cutting initiatives and improvement in its consumer banking and credit businesses, Wells Fargo (NYSE:WFC) revealed a stronger-than-expected 23%...

  2. Wells Fargo Profit Up 22% From Year Ago

    Wells Fargo & Co. said on Friday its first-quarter profit increased 22% to $5.2 billion, or 92 cents per share, from $4.25 billion in profit or 75 cents in the same ...

  3. Compensation for Morgan Stanley CEO Falls 18%

    Morgan Stanley (MS) Chairman and Chief Executive James Gorman took home $10.7 million in annual compensation in 2012, down 18% from the prior year, in a calculation ...

  4. Wells Fargo CEO urges long-term debt solution in Washington

    To boost economic growth, policymakers must find a long-term solution for the nation's rising debt, Wells Fargo & Co Chief Executive John Stumpf wrote in his annual ...

  5. Wells Fargo CEO's 2012 Pay Valued at $22.9 Million

    Wells Fargo & Co. (WFC) awarded Chief Executive John Stumpf $22.9 million in salary and bonus for 2012, making him the highest-paid chief of a major U.S. commercial ...

  6. Wells Fargo CEO's pay rose 8 percent to $19.3 million - filing

    Wells Fargo & Co Chief Executive John Stumpf's pay increased 8 percent in 2012, making him one of the industry's best-paid leaders, according to a filing with the U....

  7. Herbalife short-seller sues banks, Icahn over alleged fraud

    A short seller in Herbalife Ltd's stock has sued officials at three major U.S. banks as well as activist investor Carl Icahn, saying they are helping perpetuate a fr...

  8. Wells Fargo Awards CEO Stumpf $1 Million in Restricted Stock for 2012

    Wells Fargo & Co. (WFC) disclosed Tuesday that it awarded Chief Executive John Stumpf 27,398 in restricted share rights as part of his 2012 compensation.The bonus wa...

  9. Wells Fargo Raises Dividend by 14%

    Wells Fargo & Co. (WFC) raised its quarterly dividend 14%, as the bank looks to increase shareholder return.The three-cent increase brings Wells Fargo's quarterly pa...

  10. Wells Fargo Lifts Dividend 14%

    Wells Fargo's (NYSE:WFC) board of directors approved plans on Tuesday to boost the banking giant's quarterly dividend by 14%.Shares of San Francisco-based Wells Farg...

  11. J.P. Morgan CEO's Pay Cut 50% After 'Whale' Loss; Bank Reports Record Profits

    J.P. Morgan Chase & Co. (JPM) hit Chief Executive James Dimon with a 50% pay cut for 2012 because of the "London whale" trading debacle that cost the nation's larges...

  12. Wells Fargo 4th-Quarter Net Rises, but Mortgage Pipeline Falls

    Wells Fargo & Co.'s (WFC) fourth-quarter profit rose 24% and revenue exceeded expectations, but the bank continues to suffer from low interest rates while the mortga...

  1. Wells Fargo Announces New CFO To Replace Sloan

    Wells Fargo & Co. announced on Tuesday the appointment of a new chief financial officer. John R. Shrewsberry, current head of the investment bank will replace curren...

  2. Wells Fargo CFO to Head Wholesale Banking Group

    Wells Fargo & Co on (NYSE:WFC) Tuesday named a new chief financial officer and wholesale banking leader, in a shake-up of its top ranks.Dave Hoyt, Wells Fargo's curr...

  3. Wells Fargo Posts 4Q Beat

    Wells Fargo (NYSE:WFC) logged a 10.2% jump in fourth-quarter profits on Tuesday as the banking giant countered shrinking revenue with lower loss provisions.Despite t...

  4. Obama Talks Shutdown, Debt Limit with Bank Chiefs

    President Barack Obama was scheduled to meet on Wednesday with chief executives of major banks to discuss the government shutdown and the looming deadline to raise t...

  5. Banking Heads Take 10% Pay Cuts, Still Bank $11.5M on Average

    J.P. Morgan (NYSE:JPM) CEO Jamie Dimon may have to scale back a bit this year.Dimon, along with other top bankers in the U.S. and Europe, saw their average pay drop ...

  6. Buffett Managers Score Big Payday

    Warren Buffett told investors in March he "hit the jackpot" hiring two former hedge-fund managers to help run Berkshire Hathaway Inc.'s investing business.Todd Combs...

  7. Wells Fargo CEO Stumpf Disagrees With Shrinking Big Banks

    Wells Fargo & Co. (WFC) Chairman and Chief Executive John Stumpf shot down the hotly debated notion of too-big-to-fail and noted big banks like Wells Fargo are posit...

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