Wells Fargo Earnings: How Did the Bank Do With a New CEO?
Wells Fargo (NYSE: WFC) has dramatically underperformed the financial sector in recent years. Over the past year, the bank's stock rose by just 5% compared with 26% for the sector as a whole, and over the past three years, the underperformance is more than 40 percentage points.
This is certainly understandable, given the bank's massive fake-accounts scandal and numerous other regulatory and legal issues that have taken place. Plus, the bank's third quarter and other recent results left much to be desired.
However, a new CEO was finally brought in this past October, a move that many experts said was necessary for the bank to truly move forward. Now, Wells Fargo just released its fourth-quarter results, the first numbers since Charles Scharf took the helm at the bank. Here's what investors need to know.
Source Fool.com
