The bank has said it hopes to ramp up its investment banking and credit card operations, along with other areas.
News & Analysis: Wells Fargo
The Federal Reserve recently indicated that inflation might not be temporary and suggested it could hike rates sooner than anticipated.
Wells Fargo has been one of the best-performing financial stocks, but could it still have lots of upside potential?
Wells Fargo will soon be able to raise its dividend back to a more normal level after significantly reducing it last year. The big question is how quickly that will happen.
The bank had a smaller day one CECL reserve level than most of its peers, and it hasn't really begun to release its pandemic-related loan-loss reserves yet.
Sarah Dahlgren, head of regulatory affairs at the bank, reportedly is stepping down to pursue new opportunities.
The bank's price-to-earnings ratio has caught up with some of its peers. But I believe earnings are still estimated to be depressed in the near future, which will eventually change.
The bank now trades at a premium to peers in terms of price-to-earnings ratio based on 2022 earnings estimates, he says.
The Consumer Financial Protection Bureau is looking into how the bank formerly disclosed and assessed fees on certain consumer bank accounts.
The bank had a better-than-expected earnings report.