Reported 17 days ago
Wells Fargo & Co. shares jumped 7.1% on Tuesday, marking their largest gain since last November, after the bank announced a positive mid-term profitability target update following the lifting of an asset cap by regulators. Analysts noted that the increase in target return on tangible common equity to 17-18% reflects the bank's strong earnings and proactive strategies. This surge places Wells Fargo among the day's top performers in the KBW Bank Index.
Source: YAHOO