The PNC Financial Services Group, Inc. BancAnalysts Association of Boston November 3, 2011 Exhibit 99.1 |
2 DRAFT Cautionary Statement Regarding Forward-Looking Information and Adjusted Information This presentation includes “snapshot” information about PNC used by way of illustration. It is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings. The presentation also contains forward-looking statements regarding our outlook for earnings, revenues, expenses, capital levels, liquidity levels, asset levels, asset quality and other matters regarding or affecting PNC and its future business and operations. Forward-looking statements are necessarily subject to numerous assumptions, risks and uncertainties, which change over time. The forward-looking statements in this presentation are qualified by the factors affecting forward-looking statements identified in the more detailed Cautionary Statement included in the Appendix, which is included in the version of the presentation materials posted on our corporate website at www.pnc.com/investorevents. We provide greater detail regarding some of these factors in our 2010 Form 10-K and 2011 Form 10-Qs, including in the Risk Factors and Risk Management sections of those reports, and in our subsequent SEC filings. Our forward-looking statements may also be subject to other risks and uncertainties, including those we may discuss in this presentation or in SEC filings, accessible on the SEC’s website at www.sec.gov and on PNC’s corporate website at www.pnc.com/secfilings. We have included web addresses in this presentation as inactive textual references only. Information on these websites is not part of this presentation. Future events or circumstances may change our outlook and may also affect the nature of the assumptions, risks and uncertainties to which our forward-looking statements are subject. Forward-looking statements in this presentation speak only as of the date of this presentation. We do not assume any duty and do not undertake to update those statements. Actual results or future events could differ, possibly materially, from those anticipated in forward-looking statements, as well as from historical performance. In this presentation, we sometimes refer to adjusted results to help illustrate the impact of certain types of items. This information supplements our results as reported in accordance with GAAP and should not be viewed in isolation from, or a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these respective items on our results for the periods presented due to the extent to which the items are not indicative of our ongoing operations. We may also provide information on pretax pre-provision earnings (total revenue less noninterest expense) and on tangible book value per share (calculated as book value per share less total intangible assets, other than servicing rights, per share). We believe that pretax pre-provision earnings, a non-GAAP measure, is useful as a tool to help evaluate the ability to provide for credit costs through operations, and that tangible book value per share, a non-GAAP measure, is useful as a tool to help evaluate the amount, on a per share basis, of intangible assets other than servicing rights included in book value. Where applicable, we provide GAAP reconciliations for such additional information, including in the Appendix. In certain discussions, we may also provide information on yields and margins for all interest-earning assets calculated using net interest income on a taxable-equivalent basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. We believe this adjustment may be useful when comparing yields and margins for all earning assets. We may also use annualized, proforma, estimated or third party numbers for illustrative or comparative purposes only. These may not reflect actual results. This presentation may also include discussion of other non-GAAP financial measures, which, to the extent not so qualified therein or in the Appendix, is qualified by GAAP reconciliation information available on our corporate website at www.pnc.com under “About PNC–Investor Relations.” |
3 DRAFT Today’s Discussion PNC’s differentiated business model has delivered strong results through the cycle Investing for future growth Balance sheet positioned to support client demand Significant opportunity to deliver long-term shareholder value PNC Continues to Build a Great Company. PNC Continues to Build a Great Company. |
4 DRAFT Significant 2011 Achievements PNC Is Positioned to Deliver Even Greater Shareholder Value. PNC Is Positioned to Deliver Even Greater Shareholder Value. YTD financial summary Net income Diluted EPS from net income Return on average assets $2,578 million $4.79 1.31% Delivered strong financial results through exceptional client growth across businesses and markets Grew commercial loans Maintained a high quality balance sheet, improved overall credit quality Disciplined expense management Pending RBC Bank (USA) acquisition will provide access to growth markets at a price below tangible book value Continued to maintain strong capital levels and ratios and liquidity positions YTD11 highlights — Increased common dividend 250% in second quarter — Issued $1 billion preferred stock — Issued $1.25 billion senior debt |
5 DRAFT Delivering Strong Returns YTD return on average assets YTD return on Tier 1 common capital² Peer Source: SNL DataSource, First Call reports and company reports, as available. (1) PNC Sept. 30, 2011 Tier 1 common and Tier 1 common ratio estimated. (2) Return on Tier 1 common capital calculated as annualized net income divided by estimated Tier 1 common capital. Further information is provided in the Appendix. STI as of June 30, 2011. 9/30/11 Tier 1 common ratio¹ BAC -.03% BAC -.06% |
6 DRAFT 942 1,076 Sept 10 Sept 11 Growing Customers – Retail Banking Strong results December 2010 Goal Free checking Relationship checking³ September 2011 30% 68% 70% (1) Organic growth refers to consumer and small business customers excluding 32,000 relationships from 2Q11 acquisition. (2) Organic growth excludes 3,000 customers acquired by acquisition in 2Q11. (3) Relationship checking refers to accounts with a committed balance level or self- service accounts with lower cost of servicing. YTD highlights Checking relationships YTD annualized organic growth rate of 5.5% far exceeded the 1.2% population growth of our retail footprint On track to achieve new checking account mix target of 70% relationship checking Organic checking relationship growth¹ Organic growth in online bill payment active customers New originations Period end 48 225 YTD10 YTD11 2 + + |
7 DRAFT Strong results Corporate Banking New Cumulative Primary Client 1 Growth 1Q 2Q 3Q 4Q New primary clients: — New client additions represent revenue potential of $200 million per performance of existing clients — Grew 10% each year for two years while improving average risk rating — Referral sales to Corporate Banking from Retail increased 34% YTD highlights YTD10 YTD11 37% 46% Corporate Banking New Client Loan Utilization 256 565 869 0 250 500 750 1,000 2011 Goal 2011 Actual New primary clients increased 25% YoY (1) A Corporate Banking primary client is defined as a corporate banking relationship with annual revenue generation of $50,000 or more or, within corporate banking, a commercial banking client relationship with annual revenue generation of $10,000 or more. Growing Customers – Corporate Banking |
8 DRAFT Growing Customers – Asset Management Group (1) Referral sales are new sales to clients referred to AMG by Retail Banking or Corporate and Institutional Banking. (2) Primary clients are client relationships with annual revenue generation of $10,000 or more. (3) Total net flows defined as net change from clients including dividends received. YTD highlights Total sales increased 38% in 3Q11 compared with 3Q10 Expanding distribution in all markets with a particular focus on higher growth markets — 216 external new hires in the first nine months of 2011 – primarily front line talent acquisition YTD earnings impacted by higher marketing costs from PNC Wealth Insight SM product launch in 3Q — Accessible to over 12,000 clients Strong results Referral sales 1 YTD11 vs. YTD10 86% New primary clients 2 YTD11 vs. YTD10 34% $.1B $1.3B 3Q11 3Q10 Discretionary AUM Total Net Flows |
9 DRAFT 3.71 Performance and Team Driven Culture Reflects PNC’s brand attributes of ease, confidence and achievement Awarded to 29 companies worldwide for extraordinary ability to create an engaged workplace culture PNC is a three-time winner and the only U.S bank to be recognized 4.04 4.21 4.40 4.34 4.40 4.49 4.55 4.35 4.41 4.44 4.44 4.43 4.41 4.48 4.00 4.50 5.00 4Q07 4Q08 4Q09 4Q10 2Q11 Employee Engagement Customer Engagement High employee and customer engagement “Gallup Great Workplace Award” recipient for 2011 Employee engagement shown for total bank branches. Source: Gallup. 4.43 4.38 NCC Conversions Strongly Agree Agree |
10 DRAFT Investing for Future Growth Expanding into faster growing regions with attractive market demographics — Chicago, Atlanta 1 , Charlotte 1 , Orlando 1 Adding relationship managers and product specialists in targeted, under-penetrated growth markets — Increasing distribution capacity — Product training Opportunity to deliver PNC’s products and services to new customers — Utilizing technology and market research on changing customer behavior to provide customers more choices — Leveraging cross sell synergies Higher growth markets People Product capabilities Large markets provide excellent C&IB and Wealth Management opportunities RBC Bank (USA)¹ Market Potential Market Revenue Growth (YTD10-YTD11) Washington, DC 11% Chicago 27% Yielding results (1) Acquisition pending. (2) Source: SNL DataSource as of September 30, 2011. |
11 DRAFT The Chicago Story – “Go-To-Market Strategy” Convert to PNC common platform Initiate “Human Sigma” in retail distribution Increase brand awareness Invest in product and relationship managers Significant increase in PNC’s customer confidence and brand awareness 53% 55% 56% 54% 58% 41% 32% 22% 23% 23% 2007 2008 2009 2010 2011 Strategy (1) Confidence is measured at PNC by asking “PNC is a name I can always trust” and “PNC always delivers on what they promise.” A respondent is considered Confident if they answer a “5” Strongly Agree to both items. Source: Gallup June 2011. (2) Source: TNS Strategic Market report as of 2Q11. 27% 29% 20% 28% 51% 55% 56% 58% Pre-conversion Post-conversion 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Total Brand Awareness – Chicago 2 National Customer Confidence PNC customer confidence 1 US population confidence in banking industry |
12 DRAFT The Chicago Story – Market Opportunity Philadelphia Chicago Projected 5-year growth: Population .71% 1.86% Household income 15.4% 16.6% Market demographics: Population (in millions) 5.9 9.7 Deposits (in millions) $204,860 $291,896 Branches 1,892 3,214 Market opportunities: Households² (in millions) 2.2 3.5 Universities 64 74 Corporate Banking¹ 4,800 7,300 PNC’s presence: Deposit market share 8.2% 4.1% Branches 190 151 Source: SNL Database and Nielsen as of September 30, 2011. (1) Corporate banking prospects include Large Corporate, Middle Market, Commercial Segment, Public Finance and a minor amount of other segments. (2) Source: Nielsen. |
13 DRAFT The Chicago Story – Executing on the Opportunity PNC’s demonstrated execution and revenue potential Total Corporate Banking and AMG Sales 1 48% 68% 52% 32% Non-Credit Sales Credit Sales $26 $114 $52 Prior to conversion of Chicago market August 2011, annualized Philadelphia Chicago Philadelphia Chicago (1) Chicago market application systems conversion occurred in June 2010. Pre-conversion Sales reflect the first six months of 2010, annualized. (2) Year-to-date August 2011. Corporate Banking Cross-sell Revenue 2 |
14 DRAFT Balance Sheet Management in a Low Rate Environment Drivers Increase responsible lending to partially offset lower asset yields Substantially reduce cost of funding to maintain net interest income Maintain liquidity and strong capital position Focus on risk-adjusted loan growth to mitigate impact of securities repricing Lower funding cost Strategies Funding Cost Reduction Opportunities Expected 2012 Impact (in millions) Repricing CDs $450-$500 Trust preferreds Maturing debt Deposit funding Expected 2012 impact compared to 2011 assumes an extended period of slow economic growth and low interest rates. |
15 DRAFT Accelerating Commercial and Industrial Loan Growth Source: Federal Reserve H8 reports for all domestic commercial banks. Seasonally adjusted annual growth rate. PNC loan data from TARP reports. (1) PNC Corporate & Institutional Banking quarterly utilization rates reflect the consolidation of Market Street Funding Corporation beginning January 2010. 2011 represents year to date results through September 30, 2011. Annual loan growth Every percentage point increase in utilization increases loan balances by $1.4B and approximately $40M in annual net interest income. Utilization -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% PNC All Commercial Banks 45% 46% 47% 48% 49% 50% 51% 52% 53% PNC Corporate & Institutional Banking Utilization 1 |
16 DRAFT Loan Growth Momentum Total Corporate & Institutional Banking average loans increased in 3Q11 by 7% compared with 3Q10 Loans have been steadily increasing in Business Credit, Middle Market and Corporate Finance since the end of 2010, primarily driven by new client growth and commitments Average credit commitments per new client has increased 60% YTD11 vs. YTD10 YTD highlights Average loan growth primarily driven by new clients 9.1 9.6 6.4 8.5 4.4 5.5 3Q10 3Q11 Corporate Finance Middle Market Business Credit |
17 DRAFT Highlights Capital Management Tier 1 common ratio (1) Proforma estimate is based on PNC’s estimated Tier 1 common ratio of 10.5% as of 9/30/11, and includes the assumed benefit of 1.4%, which reflects First Call 2011 and 2012 estimates and current dividend payout, as well as the assumed decrease of 3.3%-3.8%, which reflects assumptions utilizing Basel II methodology regarding credit, operating and market risk and includes the treatment of BlackRock and sub-investment grade securities (assuming no AOCI double counting) under Basel II, and assumes no common share issuance for the pending RBC Bank (USA) acquisition. This estimate is subject to further regulatory guidance and clarity. The estimate is based on the phase-in of Basel III rules in effect as of 2012. (2) Regulatory requirements include capital conservation buffer. (3) Parent company liquidity coverage defined as liquid assets divided by funding obligations within a two year period. Basel III requirements² 12/31/12 Proforma Basel III 8.0% - 8.5%¹ Proforma Basel III Tier 1 common ratio estimated to be between 8.0-8.5% at December 31, 2012² – Possible improvement assuming final capital requirements reflect the inherent risk profile in our sub-investment grade securities – Assumes no common stock issuance to fund pending acquisition of RBC Bank (USA) Strong liquidity position at September 30, 2011 – Loan-to-deposit ratio of 82% – Parent company two year liquidity coverage³ of 168% Capital Priorities: – Investing in organic growth – Meeting regulatory requirements – Return capital to shareholders |
18 DRAFT Delivering Long-Term Shareholder Value Tangible book value per share¹ Pretax pre-provision earnings per share³ $17.58 $44.85 12/31/07 9/30/11 $7.06 $11.16 2007 2011 PNC % change 2007-2011² PNC 4 155% 87% 71% 48% 36% 24% 21% -4% -5% -10% -14% -42% -44% 58% 23% 17% 13% 11% -7% -29% -36% -43% -55% -57% -68% -84% PNC MTB WFC USB JPM COF BBT FITB STI CMA RF KEY BAC Peer banks identified in the Appendix. Source for banks other than PNC: SNL DataSource. (1) Tangible book value per share calculated as book value per share less goodwill and other intangible assets other than servicing rights. Further information is provided in the Appendix. (2) Percentage change for 2007 to nine months ended September 30, 2011, annualized, respectively. (3) Pretax, pre-provision earnings are from continuing operations and are calculated as total revenue less noninterest expense. Further information is provided in the Appendix. (4) 2011 represents pretax pre-provision earnings for the nine months ended September 30, 2011, annualized, divided by the number of shares outstanding as of September 30, 2011. % change 2007-2011² PNC WFC USB JPM MTB BBT COF BAC CMA FITB STI RF KEY |
19 DRAFT Cautionary Statement Regarding Forward-Looking Information This presentation includes “snapshot” information about PNC used by way of illustration and is not intended as a full business or financial review. It should not be viewed in isolation but rather in the context of all of the information made available by PNC in its SEC filings. We also make statements in this presentation, and we may from time to time make other statements, regarding our outlook for earnings, revenues, expenses, capital levels, liquidity levels, asset quality and other matters regarding or affecting PNC and its future business and operations that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements are typically identified by words such as “believe,” “plan,” “expect,” “anticipate,” “see,” “intend,” “outlook,” “project,” “forecast,” “estimate,” “goal,” “will,” “should” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date made. We do not assume any duty and do not undertake to update forward-looking statements. Actual results or future events could differ, possibly materially, from those anticipated in forward-looking statements, as well as from historical performance. Our forward-looking statements are subject to the following principal risks and uncertainties. •Our businesses, financial results and balance sheet values are affected by business and economic conditions, including the following:: o Changes in interest rates and valuations in debt, equity and other financial markets. o Disruptions in the liquidity and other functioning of U.S. and global financial markets. o The impact on financial markets and the economy of the downgrade by Standard & Poor’s of U.S. Treasury obligations and other U.S. government-backed debt, as well as issues surrounding the level of U.S. and European government debt and concerns regarding the credit worthiness of certain sovereign governments in Europe. o Actions by Federal Reserve, U.S. Treasury and other government agencies, including those that impact money supply and market interest rates. o Changes in customers’, suppliers’ and other counterparties’ performance and creditworthiness. o Slowing or failure of the current moderate economic recovery. o Continued effects of aftermath of recessionary conditions and uneven spread of positive impacts of recovery on the economy and our counterparties, including adverse impacts on levels of unemployment, loan utilization rates, delinquencies, defaults and counterparty ability to meet credit and other obligations. o Changes in customer preferences and behavior, whether due to changing business and economic conditions, legislative and regulatory initiatives, or other factors. •Our forward-looking financial statements are subject to the risk that economic and financial market conditions will be substantially different than we are currently expecting. These statements are based on our current view that the modest economic expansion will persist in the year ahead and interest rates will remain very low. Appendix |
20 DRAFT Cautionary Statement Regarding Forward-Looking Information (continued) Appendix •Legal and regulatory developments could have an impact on ability to operate our businesses, financial condition, results of operations, competitive position, reputation, or pursuit of attractive acquisition opportunities. Reputational impacts could affect matters such as business generation and retention, liquidity, funding, and ability to attract and retain management. These developments could include: o Changes resulting from legislative and regulatory reforms, including broad-based restructuring of financial industry regulation and changes to laws and regulations involving tax, pension, bankruptcy, consumer protection, and other industry aspects, and changes in accounting policies and principles. We will be impacted by extensive reforms provided for in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and otherwise growing out of the recent financial crisis, the precise nature, extent and timing of which, and their impact on us, remains uncertain. o Changes to regulations governing bank capital and liquidity standards, including due to the Dodd-Frank Act and to Basel III initiatives. o Unfavorable resolution of legal proceedings or other claims and regulatory and other governmental investigations or other inquiries. In addition to matters relating to PNC’s business and activities, such matters may include proceedings, claims, investigations, or inquiries relating to pre acquisition business and activities of acquired companies, such as National City. These matters may result in monetary judgments or settlements or other remedies, including fines, penalties, restitution or alterations in our business practices, and in additional expenses and collateral costs, and may cause reputational harm to PNC. o Results of regulatory examination and supervision process, including our failure to satisfy requirements of agreements with governmental agencies. o Impact on business and operating results of any costs associated with obtaining rights in intellectual property claimed by others and of adequacy of our intellectual property protection in general. •Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through effective use of third-party insurance, derivatives, and capital management techniques, and to meet evolving regulatory capital standards. In particular, our results currently depend on our ability to manage elevated levels of impaired assets. •Business and operating results also include impacts relating to our equity interest in BlackRock, Inc. and rely to a significant extent on information provided to us by BlackRock. Risks and uncertainties that could affect BlackRock are discussed in more detail by BlackRock in SEC filings. •Our planned acquisition of RBC Bank (USA) presents us with risks and uncertainties related both to the acquisition transaction itself and its integration into PNC after closing, including: o Closing is dependent on, among other things, receipt of regulatory and other applicable approvals, the timing of which cannot be predicted with precision at this point and which may not be received at all. The impact of closing on PNC’s financial statements will be affected by the timing of the transaction. o The transaction (including integration of RBC Bank (USA)’s businesses) may be substantially more expensive to complete than anticipated. Anticipated benefits, including cost savings and strategic gains, may be significantly harder or take longer to achieve than expected or may not be achieved in their entirety as a result of unexpected factors or events. o Our ability to achieve anticipated results from this transaction is dependent also on the following factors, in part related to the state of economic and financial markets: the extent of credit losses in the acquired loan portfolios and the extent of deposit attrition. Also, litigation and governmental investigations that may be filed or commenced, as a result of this transaction or otherwise, could impact the timing or realization of anticipated benefits to PNC. |
21 DRAFT Cautionary Statement Regarding Forward-Looking Information (continued) Appendix o Integration of RBC Bank (USA)’s business and operations into PNC, which will include conversion of RBC Bank (USA)’s different systems and procedures, may take longer than anticipated or be more costly than anticipated or have unanticipated adverse results relating to RBC Bank (USA)’s or PNC’s existing businesses. PNC’s ability to integrate RBC Bank (USA) successfully may be adversely affected by the fact that this transaction will result in PNC entering several markets where PNC does not currently have any meaningful retail presence. •In addition to the planned RBC Bank (USA) transaction, we grow our business in part by acquiring from time to time other financial services companies, financial services assets and related deposits. These other acquisitions, including our planned acquisition of branches and related deposits in metropolitan Atlanta, Georgia from Flagstar Bank, FSB, often present risks and uncertainties analogous to those presented by the RBC Bank (USA) transaction, as well as, in some cases, with risks related to entering into new lines of business. •Competition can have an impact on customer acquisition, growth and retention and on credit spreads and product pricing, which can affect market share, deposits and revenues. Industry restructuring in the current environment could also impact our business and financial performance through changes in counterparty creditworthiness and performance and in competitive and regulatory landscape. Our ability to anticipate and respond to technological changes can also impact our ability to respond to customer needs and meet competitive demands. •Business and operating results can also be affected by widespread disasters, dislocations, terrorist activities or international hostilities through impacts on the economy and financial markets generally or on us or our counterparties specifically. We provide greater detail regarding some of these factors in our 2010 Form 10-K and first and second quarter 2011 Form 10-Qs, including Risk Factors and Risk Management sections of those reports, and our subsequent SEC filings. Our forward-looking statements may also be subject to other risks and uncertainties, including those we may discuss elsewhere in this presentation or in SEC filings, accessible on the SEC’s website at www.sec.gov and on our corporate website at www.pnc.com/secfilings. We have included these web addresses as inactive textual references only. Information on these websites is not part of this document. Any annualized, proforma, estimated, third party or consensus numbers in this presentation are used for illustrative or comparative purposes only and may not reflect actual results. Any consensus earnings estimates are calculated based on the earnings projections made by analysts who cover that company. The analysts’ opinions, estimates or forecasts (and therefore the consensus earnings estimates) are theirs alone, are not those of PNC or its management, and may not reflect PNC’s or other company’s actual or anticipated results. |
22 DRAFT Non-GAAP to GAAP Reconcilement Appendix As of or for the nine months ended In millions Sept. 30, 2011 Tier 1 common capital (1) $23,410 Reported net income 2,578 Reported net income, if annualized 3,447 Return on tier 1 common capital 14.7% (1) Estimated for Sept. 30, 2011. PNC believes that return on tier 1 common capital is useful as a tool to help measure and assess a company's use of common equity. As of In millions except per share data Dec. 31, 2007 Sept. 30, 2011 % Change Common shareholders' equity $14,847 $32,583 Common shares outstanding 341 526 Book value per common share $43.60 $61.92 42% Goodwill and other intangible assets other than servicing rights $8,853 $8,990 Common shareholders' equity less intangible assets $5,994 $23,593 Common shares outstanding 341 526 Tangible book value per common share $17.58 $44.85 155% PNC believes that tangible book value per common share, a non-GAAP measure, is useful as a tool to help evaluate the amount, on a per share basis, of goodwill and certain other intangible assets included in book value per common share. |
23 DRAFT Non-GAAP to GAAP Reconcilement Appendix For the year ended For the nine months ended In millions except per share data Dec. 31, 2007 September 30, 2011 % Change Total revenue $6,705 $10,777 Noninterest expense 4,296 6,386 Pretax pre-provision earnings from continuing operations $2,409 $4,391 Pretax pre-provision earnings, annualized $2,409 $5,871 Common shares outstanding 341 526 Annualized pretax pre-provision earnings per share $7.06 $11.16 58% PNC believes that pretax, pre-provision earnings from continuing operations, a non-GAAP measure, is useful as a tool to help evaluate the ability to provide for credit costs through operations. |
24 DRAFT Peer Group of Banks Appendix The PNC Financial Services Group, Inc. PNC BB&T Corporation BBT Bank of America Corporation BAC Capital One Financial, Inc. COF Comerica Inc. CMA Fifth Third Bancorp FITB JPMorgan Chase JPM KeyCorp KEY M&T Bank MTB Regions Financial Corporation RF SunTrust Banks, Inc. STI U.S. Bancorp USB Wells Fargo & Co. WFC Ticker |