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WELLS FARGO & COMPANY

(WFC)
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Wells Fargo to close one of its Deltona branches

07/28/2021 | 01:58pm EDT

Wells Fargo Bank plans to close one of its branches in Volusia County. The San Francisco-based financial institution plans to close its branch at 1130 Deltona Blvd. in Deltona, according to a July 20 filing with the Office of the Comptroller of the Currency. Wells Fargo's website lists the branch - which is roughly 10,000 square feet - as closed temporarily. Workers at the branch will be eligible for other positions at Wells Fargo, as well as the ability to receive severance and career assistance. It is a location Wells Fargo previously considered closing in 2020 before the pandemic, based on customer use, market factors, economic trends and competitor actions. The move leaves the bank with just one Deltona branch at 1220 Providence Blvd. The bank has been directing customers to use the other Deltona branch or one at 2502 Enterprise Road in Orange City or at 131 E. New York Ave. in DeLand. This is the second Central Florida branch closure in 2021 for the bank: Its location at 130 N. Ridgewood Ave. in Daytona Beach closed in February, leaving it with five Daytona Beach branches, some of which offer only drive-up services. Further, the bank plans to close dozens of additional branches nationwide as more people use online services.


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Financials (USD)
Sales 2021 74 921 M - -
Net income 2021 17 731 M - -
Net Debt 2021 - - -
P/E ratio 2021 10,7x
Yield 2021 1,28%
Capitalization 191 B 191 B -
Capi. / Sales 2021 2,55x
Capi. / Sales 2022 2,64x
Nbr of Employees 259 196
Free-Float 74,8%
Chart WELLS FARGO & COMPANY
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Wells Fargo & Company Technical Analysis Chart | WFC | US9497461015 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 46,47 $
Average target price 49,82 $
Spread / Average Target 7,22%
EPS Revisions
Managers and Directors
Charles William Scharf President, Chief Executive Officer & Director
Michael Santomassimo Chief Financial Officer & Senior Executive VP
Steven D. Black Chairman
Saul van Beurden Senior Executive VP & Head-Technology
Gary Owen Chief Information Security Officer
Sector and Competitors