Edition:
United States

Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

50.01USD
18 Jan 2019
Change (% chg)

$0.78 (+1.58%)
Prev Close
$49.23
Open
$48.96
Day's High
$50.15
Day's Low
$48.86
Volume
11,914,276
Avg. Vol
7,762,393
52-wk High
$66.31
52-wk Low
$43.03

Latest Key Developments (Source: Significant Developments)

Limelight Health Raises $33.5 Mln In Oversubscribed Series C Funding
Thursday, 17 Jan 2019 09:07am EST 

Jan 17 (Reuters) - Limelight Health: :LIMELIGHT HEALTH RAISES $33.5 MILLION IN OVERSUBSCRIBED SERIES C FUNDING; ADDS KARA HOOGENSEN AND LERK-LING CHANG TO ITS BOARD.LIMELIGHT HEALTH - SERIES C FUNDING, LED BY PRINCIPAL LIFE, WITH PARTICIPATION FROM MASSMUTUAL VENTURES, WELLS FARGO STRATEGIC CAPITAL, AMONG OTHERS.  Full Article

Wells Fargo CFO Says On Track Towards Delivery Of 15 Pct ROE In 2020- CNBC
Tuesday, 15 Jan 2019 03:34pm EST 

Jan 15 (Reuters) - :WELLS FARGO CFO JOHN SHREWSBERRY, ON FAKE ACCOUNT SCANDAL, SAYS ITS IMPACT ON CO IS LESSENING WITH PASSAGE OF TIME - CNBC INTERVIEW.WELLS FARGO CFO JOHN SHREWSBERRY SAYS ON TRACK TOWARDS DELIVERY OF 15 PERCENT ROE IN 2020.  Full Article

Wells Fargo & Co Reports Qtrly Revenue Of $21 Bln, Down From $22.1 Bln
Tuesday, 15 Jan 2019 08:00am EST 

Jan 15 (Reuters) - Wells Fargo & Co ::WELLS FARGO REPORTS $6.1 BILLION IN QUARTERLY NET INCOME; DILUTED EPS OF $1.21.QTRLY REVENUE OF $21.0 BILLION, DOWN FROM $22.1 BILLION.QTRLY NET INTEREST INCOME OF $12.6 BILLION, UP $331 MILLION.Q4 EARNINGS PER SHARE VIEW $1.17, REVENUE VIEW $21.73 BILLION -- REFINITIV IBES DATA.QTRLY NONINTEREST EXPENSE OF $13.3 BILLION, DOWN $3.5 BILLION.QTRLY MORTGAGE BANKING INCOME WAS $467 MILLION, DOWN FROM $846 MILLION IN Q3 2018.QTRLY NET CHARGE-OFFS OF 0.30 PERCENT OF AVERAGE LOANS (ANNUALIZED), DOWN FROM 0.31 PERCENT.RETURN ON EQUITY OF 12.89 PERCENT AT QUARTER-END VERSUS 12.04 PERCENT REPORTED AT Q3-END.WELLS FARGO'S SLOAN SAYS "MADE MEANINGFUL IMPROVEMENTS TO HOW WE MANAGE RISK ACROSS COMPANY, PARTICULARLY OPERATIONAL AND COMPLIANCE RISK".ARE ON TRACK TO MEET 2019 EXPENSE TARGET.RESIDENTIAL MORTGAGE LOAN ORIGINATIONS IN Q4 WERE $38 BILLION, DOWN FROM $46 BILLION IN Q3 PRIMARILY DUE TO SEASONALITY.QTRLY NET INTEREST MARGIN WAS 2.94 PERCENT, FLAT COMPARED WITH PRIOR QUARTER."COMPARED WITH Q3, WE GREW BOTH LOANS AND DEPOSITS AND CREDIT PERFORMANCE REMAINED STRONG" IN Q4.TOTAL AVERAGE LOANS WERE $946.3 BILLION IN Q4, UP $6.9 BILLION FROM Q3.QTRLY COMMON EQUITY TIER 1 RATIO (FULLY PHASED-IN) OF 11.7 PERCENT, DOWN FROM 11.9 PERCENT IN THE PRIOR QUARTER.FY TOTAL NONINTEREST EXPENSE $56,126 MILLION VERSUS $58,484 MILLION REPORTED LAST YEAR.  Full Article

Wayne Hewett Joins Board Of Wells Fargo & Company
Monday, 7 Jan 2019 04:00pm EST 

Jan 7 (Reuters) - Wells Fargo & Co ::WAYNE M. HEWETT JOINS BOARD OF WELLS FARGO & COMPANY.WAYNE M. HEWETT JOINS BOARD OF WELLS FARGO & COMPANY.WELLS FARGO & CO - KAREN B. PEETZ TO RETIRE AT COMPANY'S 2019 ANNUAL MEETING OF SHAREHOLDERS.WELLS FARGO & CO - HEWETT CURRENTLY IS CHAIRMAN OF DIVERSITECH CORPORATION.WELLS FARGO & CO - HEWETT WILL SERVE ON BOARD'S HUMAN RESOURCES COMMITTEE AND ITS RISK COMMITTEE.  Full Article

Wells Fargo Says Securities Class-Action Settlement Court Approved
Wednesday, 19 Dec 2018 12:30pm EST 

Dec 19 (Reuters) - Wells Fargo & Co ::WELLS FARGO: SECURITIES CLASS-ACTION SETTLEMENT APPROVED BY COURT.$480-MILLION SETTLEMENT AGREEMENT.SETTLEMENT AMOUNT WAS FULLY ACCRUED AS OF MARCH 31, 2018 AND HAS BEEN PAID INTO A SETTLEMENT ESCROW.SETTLEMENT AGREEMENT PROVIDES FOR PAYMENT OF CLASS MEMBER CLAIMS.RECEIVED FINAL COURT APPROVAL OF AN AGREEMENT TO RESOLVE A PREVIOUSLY DISCLOSED CONSOLIDATED SECURITIES CLASS-ACTION.SETTLEMENT AMOUNT WAS FULLY ACCRUED AS OF MARCH 31, 2018 AND HAS BEEN PAID INTO A SETTLEMENT ESCROW.  Full Article

Wells Fargo Donates An Additional $1.5 Million To California Wildfire Relief Efforts
Friday, 16 Nov 2018 06:56pm EST 

Nov 16 (Reuters) - :WELLS FARGO DONATES AN ADDITIONAL $1.5 MILLION TO CALIFORNIA WILDFIRE RELIEF EFFORTS.  Full Article

Office Of The Comptroller Of The Currency In Recent Weeks Sent Wells Fargo A Regulatory Warning- WSJ
Wednesday, 7 Nov 2018 11:57am EST 

Nov 7 (Reuters) - :OFFICE OF THE COMPTROLLER OF THE CURRENCY IN RECENT WEEKS SENT WELLS FARGO A REGULATORY WARNING THAT OFTEN PRECEDES AN ENFORCEMENT ACTION - WSJ.  Full Article

A.G. Underwood Announces $65 Million Settlement With Wells Fargo
Monday, 22 Oct 2018 01:20pm EDT 

Oct 22 (Reuters) - New York Attorney General Barbara Underwood::A.G. UNDERWOOD ANNOUNCES $65 MILLION SETTLEMENT WITH WELLS FARGO FOR MISLEADING INVESTORS REGARDING CROSS-SELL SCANDAL.NEW YORK AG - SETTLEMENT HAS NO IMPACT ON ONGOING INVESTIGATION OF UNAUTHORIZED ACCOUNTS OPENING, OTHER PENDING INVESTIGATIONS OF WELLS FARGO.  Full Article

Diane Schumaker-Krieg, Global Head Of Research, Economics & Strategy, To Retire From Wells Fargo
Thursday, 4 Oct 2018 02:30pm EDT 

Oct 4 (Reuters) - Wells Fargo & Co ::DIANE SCHUMAKER-KRIEG, GLOBAL HEAD OF RESEARCH, ECONOMICS & STRATEGY, TO RETIRE FROM WELLS FARGO.WELLS FARGO & CO - SCHUMAKER-KRIEG WILL REMAIN WITH WELLS FARGO SECURITIES THROUGH END OF DECEMBER 2018.  Full Article

Wells Fargo Asset Management Announces Changes To Multi-Sector Income Fund Portfolio Management Team
Wednesday, 3 Oct 2018 05:29pm EDT 

Oct 3 (Reuters) - Wells Fargo & Co ::WELLS FARGO ASSET MANAGEMENT ANNOUNCES CHANGES TO MULTI-SECTOR INCOME FUND PORTFOLIO MANAGEMENT TEAM.WELLS FARGO ASSET MANAGEMENT SAYS EFFECTIVE SEPTEMBER 12, 2018, SENIOR PORTFOLIO MANAGER CHRISTOPHER WIGHTMAN HAS LEFT.  Full Article

Photo

As loans and revenue shrink, Wells Fargo leans on cost cuts

Wells Fargo & Co's loan book shrank and revenue fell across all its major businesses last quarter, as the fourth-largest U.S. lender continued to work through the consequences of wayward sales practices at its consumer bank.