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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

59.87USD
15 Dec 2017
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$0.65 (+1.10%)
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Latest Key Developments (Source: Significant Developments)

Wells Fargo settles 2006 lawsuit related to VA loans
Friday, 4 Aug 2017 10:23am EDT 

Aug 4 (Reuters) - Wells Fargo & Co ::Wells Fargo settles 2006 lawsuit related to VA loans.Wells fargo "denies allegations" in lawsuit but will pay $108 million to U.S. government to resolve claims​.To settle lawsuit that claimed some VA interest rate reduction refinance loans originated by co should not have been eligible for VA guarantees​.  Full Article

Wells Fargo & Company increases common dividend
Tuesday, 25 Jul 2017 04:30pm EDT 

July 25 (Reuters) - Wells Fargo & Co :Wells Fargo & Company increases common dividend.Sets quarterly dividend of $0.39 per share.Wells Fargo & Co - ‍third-quarter dividend represents an increase of $.01 per share, or 3 percent, from prior quarter​.  Full Article

Wells fargo discloses accidental client-data release - WSJ
Monday, 24 Jul 2017 03:53pm EDT 

July 24 (Reuters) - :Wells Fargo discloses accidental client-data release - WSJ.Wells Fargo's confidential information on thousands of the bank's wealth-advisory clients comes out after subpoena tied to defamation lawsuit - WSJ.  Full Article

Wells Fargo announces Don Hayes as head of business banking for new Ohio & Western Pennsylvania region
Monday, 24 Jul 2017 01:30pm EDT 

July 24 (Reuters) - Wells Fargo & Co ::Wells Fargo announces Don Hayes as head of business banking for new Ohio & Western Pennsylvania region.Keith Alves also named business banking manager for new Pittsburgh team.  Full Article

Wells Fargo Q2 earnings per share $1.07
Friday, 14 Jul 2017 08:00am EDT 

July 14 (Reuters) - Wells Fargo & Co ::Wells Fargo reports $5.8 billion in quarterly net income.Q2 earnings per share $1.07.Q2 earnings per share view $1.01 -- Thomson Reuters I/B/E/S.Quarterly revenue $22.2 billion.Q2 revenue view $22.47 billion -- Thomson Reuters I/B/E/S.Wells Fargo & Co qtrly ‍total average loans of $956.9 billion, up $6.1 billion, or 1 percent​.Wells Fargo & Co - return on equity of 11.95 percent at Q2-end versus 11.54 percent at Q1-end.Wells Fargo & Co - qtrly ‍net charge-offs of $655 million, down $269 million​.Wells Fargo & Co qtrly ‍net interest income in Q2 2017 increased $183 million from Q1 2017 to $12.5 billion​.Wells Fargo & Co qtrly ‍mortgage banking noninterest income was $1.1 billion, compared with $1.2 billion in Q1 2017​.Wells Fargo & Co qtrly ‍net interest margin was 2.90 percent, up 3 basis points from Q1 2017​.Wells Fargo & Co - common equity tier 1 ratio (fully phased-in) of 11.6 percent at Q2-end versus 11.2 percent at Q1-end.Wells Fargo & Co - qtrly ‍net charge-offs were 0.27 percent of average loans (annualized), down from 0.39 percent​.Wells Fargo & Co qtrly ‍nonperforming assets decreased $827 million from q1 2017 to $9.8 billion.​.Wells Fargo & Co - ‍residential mortgage loan originations increased in Q2, up to $56 billion, from $44 billion in Q1​.Wells Fargo & Co - ‍Q2 2017 included discrete tax benefits totaling $186 million, or approximately $0.04 per share​.  Full Article

Wells Fargo & Co to sell its shareowner services business for $227 mln
Wednesday, 12 Jul 2017 02:15am EDT 

July 12 (Reuters) - Wells Fargo & Co ::Entered into an agreement to sell its shareowner services business to Equiniti Group PLC.To sell its shareowner services business to Equiniti Group PLC for $227 million.Transaction is expected to close by end of Q1 2018.  Full Article

Equiniti to buy Wells Fargo Share Registration & Services business for $227 mln
Wednesday, 12 Jul 2017 02:00am EDT 

July 12 (Reuters) - Equiniti Group Plc ​:‍Proposed acquisition and carve out of Wells Fargo Share Registration & Services business for total cash consideration of $227 million.Says ‍acquisition expected to be strongly earnings accretive in first full year of ownership.Says ‍acquisition expected to be double digit earnings accretive by end of second full year of ownership.Says ‍expected cost synergies of deal estimated to be at least $10 million per annum.Says ‍expected cost synergies achievable by third full year of ownership, with 50% achieved by second full year of ownership.Consideration, transaction expenses expected to be financed from planned £122 million rights issue ​.Says ‍rights issue is expected to be launched in September 2017.Cash consideration, transaction expenses also expected to be financed from £120 million fully underwritten new debt facilities.Acquisition is anticipated to complete during Q4 2017/Q1 2018 following completion of carve out of WFSS and regulatory approval.  Full Article

Wells Fargo promotes investor relations head Jim Rowe
Thursday, 6 Jul 2017 04:00pm EDT 

July 6 (Reuters) - Wells Fargo & Co ::Wells Fargo forms new stakeholder relations group.Wells Fargo & Co - investor relations head Jim Rowe promoted to lead new organization.Wells Fargo & Co - ‍investor relations head Jim Rowe promoted to lead new organization​.Wells Fargo & Co - stakeholder relations will be a part of company's chief administrative office, led by hope hardison.Wells Fargo & Co - ‍new stakeholder relations group will include investor relations (ir), which moves from enterprise finance & information technology​.Wells Fargo & Co - Rowe is in process of naming a new director of investor relations.Wells Fargo & Co - changes are effective immediately.Wells Fargo & Co - ‍stakeholder relations group will partner with other groups to build and execute fully-integrated stakeholder relations program​.Wells Fargo & Co - ‍new stakeholder relations group will also include corporate communications and government relations & public policy​.  Full Article

Wells Fargo enters support agreement with WFC Holdings
Wednesday, 28 Jun 2017 05:18pm EDT 

June 28 (Reuters) - Wells Fargo & Co ::Wells Fargo & Co-on June 28, 2017, in connection with resolution plan, or so-called "living-will", co entered support agreement with WFC Holdings, among others‍​ ‍​.Wells Fargo - transferring assets, including majority of its cash, deposits, liquid securities and intercompany loans to Wfc Holdings, Llc.Wells Fargo - in event of co's material financial distress or failure, WFC Holdings to be obligated to use transferred assets to provide capital to co.Wells Fargo & Co says WFC Holdings will also provide funding and liquidity to co through subordinated notes and a committed line of credit - SEC filing.Wells Fargo - if some liquidity, capital metrics fall below defined triggers, subordinated notes would be forgiven, committed line of credit would terminate.Wells Fargo & Co - co's and WFC Holdings' respective obligations under support agreement are secured pursuant to a related security agreement ​.  Full Article

Wells Fargo receives no objection to its 2017 capital plan
Wednesday, 28 Jun 2017 04:34pm EDT 

June 28 (Reuters) - Wells Fargo & Co :Wells Fargo receives no objection to its 2017 capital plan.Wells Fargo & Co - expects to increase q3 2017 common stock dividend to $0.39 per share from $0.38 per share.Wells Fargo & Co - plan also includes up to $11.5 billion of common stock repurchases.  Full Article

Fed's Quarles to recuse himself from Wells Fargo matters

WASHINGTON Randal Quarles, the top Federal Reserve official tasked with policing Wall Street, said on Friday that he would recuse himself from any matters concerning Wells Fargo & Co, the nation's third largest bank.