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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

54.03USD
25 Sep 2017
Change (% chg)

$-0.22 (-0.41%)
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Latest Key Developments (Source: Significant Developments)

Wells Fargo updates on potential litigation losses as of March 31
Friday, 5 May 2017 03:32pm EDT 

May 5 (Reuters) - Wells Fargo & Co ::High end of range of potential litigation losses in excess of company's liability for estimable losses about $2 billion as of March 31 - SEC filing.  Full Article

Wells Fargo & Co says Director Ronald Sargent reports open market purchase of 9,050 shares
Friday, 5 May 2017 02:30pm EDT 

May 5 (Reuters) - Wells Fargo & Co :Wells Fargo & Co says Director Ronald Sargent reports open market purchase of 9,050 shares of co's common stock at $55.15 per share on may 5 - sec filing.  Full Article

Office of the Comptroller of the Currency is considering a downgrade of Wells Fargo - WSJ, citing sources
Friday, 9 Dec 2016 09:22am EST 

: Office of the Comptroller of the Currency is considering a downgrade of Wells Fargo on a community-lending scorecard - WSJ, citing sources Source : http://on.wsj.com/2gsoKAD ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Wells Fargo & Co Q3 earnings per share $1.03
Friday, 14 Oct 2016 08:34am EDT 

Wells Fargo & Co : Wells Fargo reports $5.6 billion in quarterly net income . Q3 earnings per share $1.03 . Q3 earnings per share view $1.01 -- Thomson Reuters I/B/E/S . Quarterly revenue rose 2 percent to $22.3 billion . Quarter-end common equity Tier 1 ratio (fully phased-in) 10.7 percent versus 10.6 percent at previous quarter-end . Qtrly total average loans of $957.5 billion, up $62.4 billion . John Stumpf forfeited unvested equity awards valued at approximately $41 million . Net interest income in Q3 2016 increased $219 million from Q2 2016 to $12.0 billion . Quarter-end return on equity of 11.60 percent versus 11.70 percent at Q2-end . Carrie Tolstedt has left company; will receive no severance; has forfeited unvested equity awards valued at approximately $19 million . Qtrly net interest margin was 2.82 percent, down 4 basis points from Q2 2016 . Qtrly net charge-offs of $805 million, up $102 million from third quarter 2015 . Qtrly mortgage banking noninterest income was $1.7 billion, up $253 million from Q2 2016 . John Stumpf, Carrie Tolstedt will not receive a bonus for 2016 . Eliminated product sales goals for Retail Banking team members as of October 1, 2016 . Qtrly residential mortgage loan originations were $70 billion in Q3, up from $63 billion in Q2 . Qtrly net charge-offs were 0.33 percent of average loans (annualized), up from 0.31 percent . Expanding scope of customer account review and remediation to include 2009 and 2010.  Full Article

Fannie Mae announces sale of non-performing loans
Tuesday, 11 Oct 2016 04:01pm EDT 

Federal National Mortgage Association : Fannie Mae announces sale of non-performing loans . 5 pools of about 7,300 loans totaling $1.39 billion in unpaid principal balance, are available for purchase by qualified bidders .Sale of non-performing loans is being marketed in collaboration with Wells Fargo Securities, LLC as an advisor.  Full Article

Wells Fargo CFO Shrewsberry on call with co execs: Other than "some legal set asides" not much different in bank's Q3 earnings - WSJ
Tuesday, 11 Oct 2016 09:23am EDT 

: Wells Fargo CFO Shrewsberry on call with co execs: Other than "some legal set asides" not much different in bank's Q3 earnings - WSJ . Wells Fargo execs on call: Growth in new retail banking business likely would be down due to scandal - WSJ .Wells Fargo CFO: Public announcements of some states suspending business with bank not "really amounting to much in terms of dollars yet" - WSJ.  Full Article

Wells Fargo issues statement on Chicago City council ordinance
Wednesday, 5 Oct 2016 01:10pm EDT 

Wells Fargo & Co : "Disappointed That Chicago City Council Has Chosen To Suspend A Relationship" With Co . Wells Fargo Media Statement Regarding Chicago City Council Ordinance .Will Continue To Serve Local Customers In Chicago.  Full Article

Oregon State Treasury - Oregon trust funds will press for structural reforms at Wells Fargo
Thursday, 29 Sep 2016 07:42pm EDT 

: Oregon State Treasury - Oregon trust funds will press for structural reforms at Wells Fargo . Oregon State Treasury - Will push for better accountability by separating the board chairman and chief executive roles . Oregon State Treasury - Treasury also is investigating potential legal action against Wells Fargo Source : (http://bit.ly/2dbjXo7) ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

BRIEF-House Financial Services Committee Wells Fargo hearing has adjourned
Thursday, 29 Sep 2016 02:28pm EDT 

Changes headline from 'Housing' to 'House'.WATERS SAYS WELLS FARGO IS 'TOO BIG TO MANAGE ' STUMPF SAYS HE HAS HAD ONE CONVERSATION WITH WARREN BUFFETT SINCE SALES SCANDAL REP MAXINE WATERS ON WELLS FARGO & CO :.  Full Article

Wells Fargo facing DoJ sanction over improperly repossessing cars owned by members of the military - Bloomberg
Thursday, 29 Sep 2016 12:27pm EDT 

:Wells Fargo facing a justice department sanction over improperly repossessing cars owned by members of the military - Bloomberg.  Full Article

RPT-Wells Fargo hires new law firm to prepare CEO for Senate appearance

NEW YORK, Sept 22 Wells Fargo & Co. has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources with knowledge of the decision.