Wells Fargo (NYSE:WFC) Unveils Plans to Start New Aircraft-Leasing Venture

Wells Fargo & Company (NYSE:WFC) uncovered plans to start its own aircraft-leasing corporation, shifting its focus from lending to ownership in the $100 billion per year market for financing commercial aircrafts.

United States commercial banks long have been active lenders to airlines but SAN FRANCISCO, California based Wells Fargo is the primary in 20 years to look ownership stake in an attempt to lift returns from its balance sheet.

Wells Fargo action comes a year after the financial company lost out to 3 Japanese institutions who decided to pay $7.3 billion for the aircraft-leasing business of Royal Bank of Scotland Group plc (ADR) (NYSE:RBS).

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. U.S. Bancorp (NYSE:USB) fell -1.18% to settle at $32.76, KeyCorp (NYSE:KEY) moved up +2.08% to end at $9.34 while PNC Financial Services (NYSE:PNC) jumped +3.73% to finish at $62.01 on Thursday.

Wells Fargo & Company (NYSE:WFC) on Jan 17, 2013 decreased -0.17% to the closing price of $35.03. The overall volume in the last trading session was 22.92 million shares. Its fifty two weeks range was $28.77 – $36.60. The total market capitalization remained at $184.48bmillion.

WFC is ahead of its 52-week low with 25.01% and lagging behind from its 52-week high price with -3.68%. WFC’s last month’s stock price volatility remained 1.50%. In its share capital WFC has 5.26 billion outstanding shares, among them 5.26 billion shares have been floated in market exchange. WFC’s stock’s institutional ownership remained 77.77% while insider ownership included 0.01%.

The stock price of WFC is moving forward from its 20 days moving average with 0.87% and remote positively from 50 days moving average with 4.23%. WFC’s current year’s earnings per share experienced an addition with 19.16% while its current quarter performance remained at 4.01%. Company’s beta coefficient included 1.41. Beta factors measure the amount of market risk associated with market trade.

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