Study: Wells Fargo & (NYSE:WFC) Ranked #1 Consumer Remittance Services Provider

  on Dec 17,2012 Posted in Business News ,Finance
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Wells Fargo & Company (NYSE:WFC) has been named as a top ranking consumer remittance services provider, according to a study released by the Inter-American Dialogue. The company was found tied for first place with two other companies, out of a field of 37. There is no other industry study that concentrates on evaluating remittance services suppliers based on price, foreign exchange rates, convenience, distribution and quality of service.

According the Daniel Ayala, head of Wells Fargo Global Remittance Services, they are delighted that a leading U.S. center for policy analysis, communication and exchange on Western Hemisphere affairs has recognized them as a leader in providing remittance service.

The company wants to let their customers know that they are committed to meet all of their financial needs and that suggest continuing to provide an economical, convenient and dependable way to send money home to major remittance receiving countries in Latin America, the Caribbean and Asia. Although, pending regulations are pushing some large banks and traditional remittance companies leave the business or reassess their way of businesses.

Dr. Manuel Orozco, Remittances and Development Program, Inter-American Dialogue, prepared the study between April 2012 and October 2012.

At the close of the trading day, Wells Fargo & Company (NYSE:WFC) shares fell -14.66% to settle at $33.15. Intraday trading was between $33.02 – $33.32.  In the past year, the stock has traded within a range of $25.18 – $36.660. The last session’s volume of 19.23 million shares was down from the average daily trading volume of 21.10 million shares.

U.S. Bancorp (NYSE:USB) shares were down -0.54% to close at $31.40. The stock traded between $31.29 – $31.60 during the last trading session.  In the last 12 months the shares have traded between $25.43 and $35.46. The last session’s volume of 9.88 million shares was a bit higher than their average daily trading volume of 8.46 million shares.

PNC Financial Services (NYSE:PNC) shares in the last session were down -1.22% closing at $55.85. The stock traded in a range of $55.75 – $56.81.  In the last year the stock has moved within a range of $53.36 – $67.89. The last session’s volume of 3.56 million shares was down from their average daily trading volume of 3.94 million shares.

Another rival company JPMorgan Chase & Co. (NYSE:JPM), traded up +0.07% moving to $42.81. Intraday trading recorded the stock price in a range between $42.71 – $46.49.  In the previous 52 weeks the price has traded between $30.42 – $46.49. The last session’s volume of 16.21 million shares was down from their average daily trading volume of 22.57 million shares.




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