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Wells Fargo & Company is a public financial services company that is listed on the New York Stock Exchange (NYSE) with the ticker symbol WFC. It is one of the largest banks in the United States and provides a range of financial services including banking, insurance, investments, mortgages, and consumer finance.
Here are some key statistics for Wells Fargo & Company (WFC):
* Market Capitalization: As of March 11th 2 ROB 2023, WFC had a market capitalization of $230.42 billion.
* Revenue: Wells Fargo & Company reported $22.35 billion in revenue for 2022.
* Net Income: The company reported a net income of $18.39 billion in 2022.
* Earnings per Share: In 2022, WFC's earnings per share were $3.77.
* Dividend Yield: As of March 11th 2023, WFC's dividend yield was 2.93%.
* Stock Price: As of March 11th 2023, Wells Fargo's stock price closed at $43.34.
* 52-week high and low: WFC's 52-week high is $47.19, and its 52-week low is $27.68.
* Sector/Industry: Finance/Banks
* Founded: Wells Fargo & Company was founded in 1852.
Some of the company's notable growth and efficiency initiatives include:
* Digital Transformation: Wells Fargo is investing in digital technologies to enhance customer experience, streamline operations, and reduce costs. In 2022, the company launched its digital banking platform, Wells Fargo Digital, which allows customers to access their accounts, pay bills, and transfer funds from their mobile devices.
* Risk Management: WFC has been focusing on strengthening its risk management practices, including enhancing its risk governance framework and improving its credit risk management processes.
* Cost Reduction: Wells Fargo has been working to reduce its expenses through various initiatives, including process automation, branch closures, and workforce optimization. In 2022, the company announced a cost savings target of $10 billion by 2023.
* Innovation: Wells Fargo has been investing in emerging technologies such as artificial intelligence, machine learning, and blockchain to improve its products and services. In 2022, the company launched a new innovation incubator, Wells Fargo Future, to explore and develop new technologies and solutions.
In summary, Wells Fargo & Company (WFC) is a leading financial services company in the U.S. with a strong history, diverse revenue streams, and a focus on innovation and risk management. Its stock has been affected by the global pandemic and economic uncertainty but has shown resilience and recovery in recent months.