Wells Fargo Plans Move of Wealth Management Division to South Florida
Written by Emily J. Thompson, Senior Investment Analyst
Source: Barron's
Wells Fargo's Relocation: Wells Fargo is relocating its wealth management unit's base of operations to South Florida later this year, confirming the move involves around 100 staff members, mainly senior executives.
New Complex in West Palm Beach: The wealth management unit will be based in a new complex in West Palm Beach, marking it as the first major bank to shift its wealth operations to Florida, as reported by Bloomberg.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy CFG?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on CFG
Wall Street analysts forecast CFG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CFG is 66.29 USD with a low forecast of 59.00 USD and a high forecast of 77.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 63.490
Low
59.00
Averages
66.29
High
77.00
Current: 63.490
Low
59.00
Averages
66.29
High
77.00
About CFG
Citizens Financial Group, Inc. offers a range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. The Company operates through two segments: Consumer Banking and Commercial Banking. Consumer Banking segment serves consumer customers and small businesses, with products and services that include deposits, mortgage and home equity lending, credit cards, small business loans, wealth management and investment services largely across its 14-state traditional banking footprint. Consumer Banking segment operates approximately 1,000 branches, including 143 in-store locations, and approximately 3,100 ATMs. Commercial Banking segment primarily serves companies and institutions with financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as syndicated loans, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
WRV Challenges Big Four Valuation Models with Faster Delivery and Lower Costs
- Clear Market Positioning: WRV enters the market as an independent platform, leveraging decades of valuation and advisory experience focused on the middle market, aiming to provide faster and more cost-effective services than large accounting firms, thereby attracting demand for efficiency and reliability.
- Rapid Delivery Capability: WRV's valuation reports are completed in days, while large firms often take weeks or months, enabling clients to make swift decisions in a competitive market, thus enhancing their responsiveness.
- Strategic Partnerships: WRV has established collaborations with leading service firms, including Baker Tilly and Merchant Investment Management, to provide comprehensive transaction lifecycle support, enhancing its competitive edge and service offerings.
- Future Growth Expectations: WRV anticipates accelerated capital release by 2026, with increased transaction activity as market confidence returns, indicating the company's growth potential and strategic positioning in the middle market will be further solidified.
Continue Reading
Trump Reaches Greenland Deal Framework, S&P 500 Rises 1.16%
- Market Rally: Following President Trump's announcement of a framework deal with NATO regarding Greenland, the S&P 500 rose by 1.16%, the Dow Jones by 1.21%, and the Nasdaq 100 by 1.36%, indicating a positive market response to policy stability.
- Bond Yields Decline: The 10-year T-note yield fell by 4 basis points to 4.25%, supported by concerns over Fed independence and rising Japanese bond yields, which contributed to the stock market's recovery.
- Gold Prices Hit Record: Amid the Greenland crisis prompting safe-haven buying, gold prices surged by 1% to a new record high, reflecting increased market anxiety and heightened demand for gold as a store of value.
- Natural Gas Surge: Natural gas prices soared over 24% to a six-week high, driven by an Arctic cold front expected to boost heating demand, leading to significant gains in natural gas-producing stocks and showcasing the energy market's robust activity.
Continue Reading