WATCH OUT JPMORGAN CHASE: WELLS FARGO IS COMING FOR YOU
https://s.yimg.com/ny/api/res/1.2/tFn1sQKIoknxtE3G9Jrz3Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD03MjA-/https://media.zenfs.com/en/motleyfool.com/e1373cb2a70092139838b56d302ab813
✍️ Wells Fargo is targeting a 17%-18% return on tangible common equity, comparable to JPMorgan Chase's target, and is playing offense after a favorable regulatory environment under the Trump administration.
👉 Wells Fargo is targeting a 17%-18% return on tangible common equity 👉 This is comparable to JPMorgan Chase's long-standing target 👉 Wells Fargo's CEO, Charles Scharf, has been working to transform the bank's regulatory infrastructure 👉 The bank is targeting a common equity tier 1 (CET1) capital ratio of 10% to 10.5% 👉 JPMorgan Chase has long received a premium valuation
-- #CharlesScharf #MichaelSantomassimo #JamieDimon #BramBerkowitz #business
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