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United States

Wells Fargo & Co (WFC)

WFC on New York Consolidated

59.95USD
16 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Popular Has Agreed To Acquire Wells Fargo’S Auto Finance Business In Puerto Rico
Wednesday, 14 Feb 2018 04:04pm EST 

Feb 14 (Reuters) - Popular Inc ::POPULAR HAS AGREED TO ACQUIRE WELLS FARGO’S AUTO FINANCE BUSINESS IN PUERTO RICO.POPULAR INC - PURCHASE PRICE FOR ALL-CASH TRANSACTION IS EXPECTED TO BE APPROXIMATELY $1.7 BILLION.POPULAR INC - PURCHASE PRICE FOR ALL-CASH TRANSACTION IS EXPECTED TO BE APPROXIMATELY $1.7 BILLION.POPULAR INC - ‍AS PART OF TRANSACTION, BANCO POPULAR WILL ACQUIRE APPROXIMATELY $1.5 BILLION IN RETAIL AUTO LOANS AND $340 MILLION IN COMMERCIAL LOANS​.POPULAR INC - ‍BANCO POPULAR WILL ALSO ACQUIRE CERTAIN OTHER ASSETS AND ASSUME CERTAIN LIABILITIES OF RELIABLE​.POPULAR INC - BANCO POPULAR WILL FUND PURCHASE PRICE WITH EXISTING LIQUIDITY.POPULAR INC - ‍POPULAR ANTICIPATES TRANSACTION TO CLOSE DURING Q2 OF 2018 AND BE ACCRETIVE TO EARNINGS​.  Full Article

S&P Downgrades Wells Fargo To 'A-/A-2' From 'A/A-1'
Wednesday, 7 Feb 2018 12:06pm EST 

Feb 7 (Reuters) - S&P::SAYS WELLS FARGO DOWNGRADED TO 'A-/A-2' FROM 'A/A-1' ON PROLONGED REGULATORY AND GOVERNANCE ISSUES; OUTLOOK IS STABLE.SAYS STABLE OUTLOOK ASSUMES WELLS FARGO WILL MEET REGULATORY CONSENT ORDER REQUIREMENTS, MAINTAIN SOLID MARKET SHARES IN MAJOR BUSINESSES.  Full Article

Wells Fargo says to satisfy consent order with Federal Reserve
Friday, 2 Feb 2018 06:26pm EST 

Feb 2 (Reuters) - Wells Fargo & Co ::WELLS FARGO COMMITS TO SATISFYING CONSENT ORDER WITH FEDERAL RESERVE."‍CONFIDENT IT WILL SATISFY REQUIREMENTS OF CONSENT ORDER IT AGREED TO TODAY WITH BOARD OF GOVERNORS OF FEDERAL RESERVE SYSTEM"​.UNDER CONSENT ORDER, CO WILL PROVIDE PLANS TO FEDERAL RESERVE WITHIN 60 DAYS THAT DETAIL WHAT ALREADY HAS BEEN DONE, AND IS PLANNED.‍IN ADDITION, ORDER IS NOT RELATED TO WELLS FARGO'S FINANCIAL CONDITION​.WELLS FARGO CEO TIMOTHY SLOAN SAYS "WE TAKE THIS ORDER SERIOUSLY AND ARE FOCUSED ON ADDRESSING ALL OF FEDERAL RESERVE'S CONCERNS".AFTER FEDERAL RESERVE APPROVAL, CO WILL ENGAGE INDEPENDENT THIRD PARTIES TO CONDUCT REVIEW TO BE COMPLETED NO LATER THAN SEPT. 30.  Full Article

Wai Lee Joins Wells Fargo Asset Management As Global Head Of Research, Multi-Asset Solutions Team
Thursday, 1 Feb 2018 08:30am EST 

Feb 1 (Reuters) - Wells Fargo & Co ::WAI LEE JOINS WELLS FARGO ASSET MANAGEMENT AS GLOBAL HEAD OF RESEARCH, MULTI-ASSET SOLUTIONS TEAM.WELLS FARGO ASSET MANAGEMENT SAYS WAI COMES TO WELLS FARGO FROM NEUBERGER BERMAN, WHERE HE WAS HEAD OF QUANTITATIVE INVESTMENTS.  Full Article

Wells Fargo Announces Quarterly Common Stock Dividend Of $0.39 Per Share
Tuesday, 23 Jan 2018 04:10pm EST 

Jan 23 (Reuters) - Wells Fargo & Co ::WELLS FARGO & COMPANY ANNOUNCES COMMON DIVIDEND AND INCREASED COMMON STOCK REPURCHASE AUTHORITY.WELLS FARGO & CO - ANNOUNCED A QUARTERLY COMMON STOCK DIVIDEND OF $0.39 PER SHARE.WELLS FARGO & CO - WELLS FARGO BOARD OF DIRECTORS ALSO INCREASED COMPANY'S AUTHORITY TO REPURCHASE COMMON STOCK BY AN ADDITIONAL 350 MILLION SHARES.  Full Article

Wells Fargo & Co Expects FY 2018 Total Expenses To Be In Range $53.5 Bln- $54.5 Bln
Friday, 12 Jan 2018 08:18am EST 

Jan 12 (Reuters) - Wells Fargo & Co ::WELLS FARGO & CO - ‍​EXPECTS FY 2018 TOTAL EXPENSES TO BE IN RANGE $53.5 BILLION - $54.5 BILLION.  Full Article

Wells Fargo Reports Q4 Net Income Of $6.2 Bln
Friday, 12 Jan 2018 08:00am EST 

Jan 12 (Reuters) - Wells Fargo & Co ::WELLS FARGO REPORTS FOURTH QUARTER 2017 NET INCOME OF $6.2 BILLION; DILUTED EPS OF $1.16.- NET INTEREST INCOME IN Q4 2017 WAS $12.3 BILLION, DOWN $136 MILLION, COMPARED WITH Q3 2017.- QTRLY NET INTEREST MARGIN WAS 2.84 PERCENT, DOWN 2 BASIS POINTS FROM Q3 2017.- TOTAL AVERAGE LOANS WERE $951.8 BILLION IN THE FOURTH QUARTER, DOWN $521 MILLION FROM THE THIRD QUARTER‍​.- QTRLY MORTGAGE BANKING NONINTEREST INCOME WAS $928 MILLION, COMPARED WITH $1.0 BILLION IN Q3 2017.- RESIDENTIAL MORTGAGE LOAN ORIGINATIONS WERE $53 BILLION IN Q4, DOWN FROM $59 BILLION IN Q3.- Q4 2017 FINANCIAL RESULTS INCLUDED $3.35 BILLION AFTER-TAX BENEFIT, OR $0.67 PER SHARE, FROM TAX CUTS & JOBS ACT.- COMMON EQUITY TIER 1 RATIO (FULLY PHASED-IN) OF 11.9 PERCENT AT QUARTER-END VERSUS 11.8 PERCENT AT Q3-END.- RETURN ON EQUITY OF 12.47 PERCENT AT QUARTER-END VERSUS 8.96 PERCENT AT Q3-END.- QTRLY REVENUE $22.1 BILLION VERSUS $21.6 BILLION.- QTRLY NONPERFORMING ASSETS DECREASED $647 MILLION, OR 7 PERCENT, FROM THIRD QUARTER 2017 TO $8.7 BILLION‍​.Q4 REVENUE VIEW $22.38 BILLION -- THOMSON REUTERS I/B/E/S.- Q4 2017 RESULTS INCLUDED $848 MILLION PRE-TAX GAIN, OR $0.11 PER SHARE, ON SALE OF WELLS FARGO INSURANCE SERVICES USA.- Q4 2017 RESULTS INCLUDED $3.25 BILLION PRE-TAX EXPENSE FROM LITIGATION ACCRUALS FOR A VARIETY OF MATTERS.WELLS FARGO - EXPENSE FOR LITIGATION ACCRUALS IN Q4 INCLUDED MORTGAGE-RELATED REGULATORY INVESTIGATIONS, SALES PRACTICES, AND OTHER CONSUMER-RELATED MATTERS.  Full Article

Wells Fargo Announces Support For Fitbit Pay
Thursday, 11 Jan 2018 09:00am EST 

Jan 11 (Reuters) - Wells Fargo & Co ::WELLS FARGO ANNOUNCES SUPPORT FOR FITBIT PAY™.WELLS FARGO & CO - WELLS FARGO CUSTOMERS WILL BE ABLE TO USE NEW FITBIT IONIC SMARTWATCH TO MAKE SEAMLESS MOBILE PAYMENTS.  Full Article

Wells Fargo & Co To Raise Minimum Hourly Pay Rate To $15
Wednesday, 20 Dec 2017 04:33pm EST 

Dec 20 (Reuters) - Wells Fargo & Co ::TO RAISE MINIMUM HOURLY PAY RATE TO $15.SAYS ‍COMPANY'S INCREASED MINIMUM HOURLY PAY RATE OF $15 FOR U.S.-BASED TEAM MEMBERS GOES INTO EFFECT IN MARCH 2018​.NEW PAY RATE IS AN 11 PERCENT INCREASE TO CURRENT MINIMUM HOURLY RATE OF $13.50 THAT COMPANY ANNOUNCED IN JANUARY 2017.IN ADDITION, OVER PAST YEAR CO HAVE ADDED FOUR ADDITIONAL PAID HOLIDAYS PER YEAR.ANNOUNCED PLANS TO GRANT RESTRICTED STOCK AWARDS TO ABOUT 250,000 TEAM MEMBERS THAT WILL VEST IN TWO YEARS SUBJECT TO GRANT TERMS.WELLS FARGO CEO SAYS TAX REFORM IS "GOOD" FOR U.S. & CO HAS TAKEN IMMEDIATE STEPS TO INVEST IN TEAM MEMBERS, COMMUNITIES, SMALL BUSINESSES.  Full Article

Wells Fargo Issues Statement On 2017 Resolution Plan Feedback By Federal Reserve And FDIC
Tuesday, 19 Dec 2017 04:32pm EST 

Dec 19 (Reuters) - Wells Fargo & Co ::WELLS FARGO & CO - ISSUES STATEMENT ON 2017 RESOLUTION PLAN FEEDBACK BY FEDERAL RESERVE AND FDIC.WELLS FARGO & CO SAYS FEDERAL RESERVE AND FDIC FOUND CO'S 2017 RESOLUTION PLAN TO BE "FREE OF DEFICIENCIES".  Full Article

Wells Fargo seeks review of Philadelphia discrimination lawsuit

The City of Philadelphia has not shown that it should be allowed to proceed with its lawsuit accusing Wells Fargo of targeting minorities for predatory loans, the bank said on Thursday, asking for an appeals court review of the city's case.