Wells Fargo emerges as the likely acquirer of Regions Financial

Phillips 66 (PSX), Target (TGT), and Wells Fargo (WFC) paid dividends on September 1, 2026. Target and Wells Fargo raised their rates, with Wells Fargo increasing its quarterly dividend by 11% to $0.50 per share. Phillips 66's shares surged 97% year-to-date, reporting Q2 EPS of $9.41, exceeding expectations. Target's Q2 EPS was $4.11 on revenue of $26.54B, while Wells Fargo returned $5.4B to shareholders in Q1 2026.

A 21-bank consortium, including Goldman Sachs (GS) and Wells Fargo (WFC), plans to launch a dollar-backed stablecoin by 2027, aiming to compete with crypto-native issuers like Tether and Circle (CRCL). The stablecoin will be pegged 1:1 to the U.S. dollar and designed for institutional and retail uses, with plans to expand into other G7 currencies. The move is seen as a strategic effort to retain deposits within the traditional banking system and leverage blockchain technology for payments and se

Tax-exempt commercial mortgage-backed securities (CMBS) are gaining traction as a financing tool for affordable housing in the U.S. New federal rules and increased attention from banks and ratings agencies are driving growth. Systima Capital Management closed a $153 million tax-exempt affordable housing bond deal, highlighting strong investor demand. The deals offer lower costs of capital and are attracting investors in a high-interest-rate environment. Freddie Mac and top banks like Citigroup h

Twenty-one global financial institutions, including Bank of America (BAC), Goldman Sachs (GS), and Citigroup (C), are forming a company to launch a regulated stablecoin. The initial focus is a U.S. dollar-denominated stablecoin, with plans to expand into other G7 currencies. The stablecoin is expected to launch in the first half of 2027 and will target wholesale, institutional, and retail markets for cross-border payments and digital asset settlements. The venture aims to comply with U.S. and EU

U.S. Bancorp (USB) is down 5.9% since reporting Q2 earnings. Truist Financial (TFC) reported $5.31B revenue, up 5.1% YoY, but missed net interest income estimates, and is down 4.9%. Wells Fargo (WFC) reported $22.7B revenue, up 8.6% YoY, beating estimates, and is down 1.3%. JPMorgan Chase (JPM) reported $58.02B revenue, up 27% YoY, beating estimates, and is up 6.9%.

Jim Cramer reclassified Caterpillar (CAT) as a data center stock due to its 29% Power Generation revenue growth, driven by AI infrastructure demand. CAT's shares surged 90% over the past year. Cramer suggested replacing CAT with TJX (TJX) and Wells Fargo (WFC) for diversification. Generac (GNRC) and Micron (MU) also saw gains from AI-related demand. CAT reported $20.54B in Q2 2026 revenue, up 24% YoY, with a forward P/E of 32.