Edition:
United Kingdom

Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

54.50USD
18 Sep 2018
Change (% chg)

$0.19 (+0.35%)
Prev Close
$54.31
Open
$54.26
Day's High
$54.69
Day's Low
$54.04
Volume
5,045,570
Avg. Vol
5,113,966
52-wk High
$66.31
52-wk Low
$50.26

Latest Key Developments (Source: Significant Developments)

Wells Fargo Is Investigating Complaints Of Gender Bias In Wealth-Management Division For Months- WSJ
Friday, 31 Aug 2018 

Aug 31 (Reuters) - :WOMEN AT BANK CONVENE, ALLEGE GENDER BIAS IN WEALTH DIVISION- WSJ.WELLS FARGO IS INVESTIGATING COMPLAINTS OF GENDER BIAS IN ITS WEALTH-MANAGEMENT DIVISION FOR MONTHS- WSJ.WELLS FARGO HAS INTERVIEWED DOZENS OF WOMEN AS PART OF THE INVESTIGATION INTO COMPLAINTS OF GENDER BIAS IN ITS WEALTH-MANAGEMENT DIVISION - WSJ.  Full Article

Wells Fargo Fires Bankers Amid Probe Of Dinner Receipts That Were Allegedly Doctored - WSJ
Thursday, 30 Aug 2018 

Aug 30 (Reuters) - :WELLS FARGO FIRES BANKERS AMID PROBE OF DINNER RECEIPTS THAT WERE ALLEGEDLY DOCTORED - WSJ, CITING SOURCES.  Full Article

Wells Fargo To Cut Over 600 Mortgage Employees- Bloomberg
Friday, 24 Aug 2018 

Aug 24 (Reuters) - :WELLS FARGO TO CUT OVER 600 MORTGAGE EMPLOYEES- BLOOMBERG.  Full Article

Wells Fargo Reaches Agreement With DOJ To Resolve Legacy Rmbs Claims
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Wells Fargo & Co ::WELLS FARGO REACHES AGREEMENT WITH DOJ TO RESOLVE LEGACY RMBS CLAIMS.WELLS FARGO & CO - AMOUNT OF SETTLEMENT WAS FULLY ACCRUED AS OF JUNE 30, 2018.  Full Article

Wells Fargo To Pay $2 Bln Penalty For Alleged Misrepresentation Of Loan Quality- CNBC,Citing Report
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - :WELLS FARGO TO PAY $2 BILLION PENALTY FOR ALLEGED MISREPRESENTATION OF LOAN QUALITY- CNBC,CITING REPORT.  Full Article

U.S DOJ Says Wells Fargo To Pay $2.09 Bln Penalty For Allegedly Misrepresenting Quality Of Loans
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - :U.S DOJ SAYS WELLS FARGO AGREES TO PAY $2.09 BILLION PENALTY FOR ALLEGEDLY MISREPRESENTING QUALITY OF LOANS USED IN RESIDENTIAL MORTGAGE-BACKED SECURITIES.U.S DOJ SAYS WELLS FARGO AGREES TO PAY $2.09 BILLION PENALTY FOR ALLEGEDLY MISREPRESENTING QUALITY OF LOANS USED IN RESIDENTIAL MORTGAGE-BACKED SECURITIES.  Full Article

Wells Fargo & Company Increases Common Stock Dividend
Tuesday, 24 Jul 2018 

Wells Fargo & Co ::MPANY INCREASES COMMON STOCK DIVIDEND.SETS QUARTERLY DIVIDEND OF $0.43PER SHARE.THIRD-QUARTER DIVIDEND REPRESENTS AN INCREASE OF $0.04 PER SHARE, OR 10 PERCENT, FROM PRIOR QUARTER.  Full Article

Wells Fargo Reports $5.2 Billion In Quarterly Net Income
Friday, 13 Jul 2018 

July 13 (Reuters) - Wells Fargo & Co ::WELLS FARGO REPORTS $5.2 BILLION IN QUARTERLY NET INCOME.Q2 EARNINGS PER SHARE $0.98.QUARTERLY REVENUE $21.6 BILLION VERSUS $22.2 BILLION.Q2 EARNINGS PER SHARE VIEW $1.12 -- THOMSON REUTERS I/B/E/S.QTRLY NET CHARGE-OFFS DECLINED $53 MILLION TO $602 MILLION, OR 0.26 PERCENT OF AVERAGE LOANS.QTRLY NET INTEREST MARGIN WAS 2.93 PERCENT, UP 9 BASIS POINTS COMPARED WITH Q1 2018.Q2 2018 INCLUDED $619 MILLION OF OPERATING LOSSES PRIMARILY RELATED TO NON-LITIGATION EXPENSE FOR PREVIOUSLY DISCLOSED MATTERS.QTRLY NET INTEREST INCOME OF $12.5 BILLION, UP $70 MILLION, OR 1 PERCENT.QTRLY AVERAGE LOANS OF $944.1 BILLION, DOWN $12.8 BILLION, OR 1 PERCENT.Q2 INCLUDED NET DISCRETE INCOME TAX EXPENSE OF $481 MILLION MOSTLY RELATED TO STATE INCOME TAXES.QTRLY MORTGAGE BANKING INCOME WAS $770 MILLION, DOWN FROM $934 MILLION IN Q1 2018.RETURN ON EQUITY OF 10.60 PERCENT AT QUARTER-END VERSUS 11.95 PERCENT REPORTED LAST YEAR.RESIDENTIAL MORTGAGE LOAN ORIGINATIONS INCREASED IN Q2 TO $50 BILLION, FROM $43 BILLION IN Q1.QTRLY DILUTED EPS OF $0.98 INCLUDED NET DISCRETE INCOME TAX EXPENSE OF $0.10 PER SHARE.Q2 REVENUE VIEW $21.68 BILLION -- THOMSON REUTERS I/B/E/S.COMMON EQUITY TIER 1 TO TOTAL RWAS ANTICIPATED UNDER BASEL III (FULLY PHASED-IN) OF 12 PERCENT ESTIMATED AT QUARTER-END VERSUS 11.6 PERCENT.Q2 MARKET SENSITIVE REVENUE $527 MILLION, DOWN FROM $1.0 BILLION IN Q1 2018, PRIMARILY DUE TO LOWER UNREALIZED GAINS FROM EQUITY SECURITIES.  Full Article

Wells Fargo Chief Economist John Silvia To Retire
Monday, 9 Jul 2018 

July 9 (Reuters) - Wells Fargo & Co ::WELLS FARGO CHIEF ECONOMIST JOHN SILVIA TO RETIRE.WELLS FARGO & CO - WELLS FARGO SECURITIES GLOBAL ECONOMIST JAY BRYSON WILL SERVE AS INTERIM CHIEF ECONOMIST AT WELLS FARGO.  Full Article

Wells Fargo Announces The Sale Of Its Majority Stake In The Rock Creek Group
Thursday, 5 Jul 2018 

July 5 (Reuters) - Wells Fargo & Co ::PRESS RELEASE - WELLS FARGO ANNOUNCES THE SALE OF ITS MAJORITY STAKE IN THE ROCK CREEK GROUP.WELLS FARGO & CO - ADDITIONAL TRANSACTION DETAILS WERE NOT PROVIDED..WELLS FARGO - WELLS FARGO ASSET MANAGEMENT ANNOUNCED THAT WELLS FARGO SOLD MAJORITY STAKE IN ROCK CREEK GROUP TO THE FOUNDER, AFSANEH BESCHLOSS, & ROCKCREEK TEAM.  Full Article

Photo

Wells Fargo sees total expenses dropping by $3 billion by 2020: CFO

Wells Fargo & Co's chief financial officer said on Friday the bank expects to reduce total expenses by about $3 billion by 2020.