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Wells Fargo May Need to Raise Cash, Cut Dividend



January 14, 2009 – Comments (1) | RELATED TICKERS: WFC

Jan. 14 (Bloomberg) -- Wells Fargo & Co., the biggest U.S. bank by stock-market value, may need to raise $10 billion and cut its dividend after the acquisition of Wachovia Corp., wrote Atlantic Equities LLP analyst Richard Staite.

Staite, based in London, downgraded Wells Fargo to “underweight” from “neutral” today and said the bank may announce disappointing earnings this year because of the deteriorating economy. Wells Fargo reports fourth-quarter earnings on Jan. 28.


1 Comments – Post Your Own

#1) On January 14, 2009 at 3:20 PM, DarkToast (32.14) wrote:

Awesome aquisition, way to go WFC.

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