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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

62.55USD
12 Jan 2018
Change (% chg)

$-0.46 (-0.73%)
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Latest Key Developments (Source: Significant Developments)

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

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 

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 

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 

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 

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

Mary Mack To Lead Wells Fargo’s Consumer Lending And Community Banking Organizations
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Wells Fargo & Co ::MARY MACK TO LEAD WELLS FARGO’S CONSUMER LENDING AND COMMUNITY BANKING ORGANIZATIONS.WELLS FARGO - EFFECTIVE IMMEDIATELY APPOINTED MARY MACK TO HEAD CO'S CONSUMER LENDING BUSINESS, IN ADDITION TO COMMUNITY BANKING.  Full Article

Wells Fargo Says ‍Recorded Pre-Tax Gain Of About $845 Mln Upon Close Of Wells Fargo Insurance Services USA Sale To USI Insurance Services​
Monday, 4 Dec 2017 

Dec 4 (Reuters) - Wells Fargo & Co ::WELLS FARGO SAYS ‍RECORDED PRE-TAX GAIN OF ABOUT $845 MILLION UPON CLOSE OF WELLS FARGO INSURANCE SERVICES USA SALE TO USI INSURANCE SERVICES​ - SEC FILING.  Full Article

Wells Fargo To Exit Personal Insurance Business
Tuesday, 28 Nov 2017 

Nov 28 (Reuters) - Wells Fargo & Co ::WELLS FARGO TO EXIT PERSONAL INSURANCE BUSINESS.- IT WILL EXIT PERSONAL INSURANCE BUSINESS AND IMMEDIATELY BEGIN WINDING DOWN MARKETING AND PRODUCT PROMOTION ACTIVITY.‍DECISION COMES AFTER A STRATEGIC ASSESSMENT OF BUSINESS, WHICH BEGAN IN EARLY OCTOBER 2017​.- ‍DECISION TO EXIT PERSONAL INSURANCE BUSINESS DOES NOT IMPACT WELLS FARGO'S WEALTH & INVESTMENT MANAGEMENT'S LIFE INSURANCE PRACTICE​.WELLS FARGO - PERSONAL INSURANCE BUSINESS IS LAST INSURANCE BROKERAGE AGENCY IN CO'S PORTFOLIO, AND ITS FINANCIAL CONTRIBUTION WAS NOT MATERIAL.  Full Article

Wells Fargo says Consumer Lending head Franklin Codel dismissed
Friday, 17 Nov 2017 

Nov 17 (Reuters) - Wells Fargo & Co :Wells Fargo & Co - Franklin Codel, a senior executive vice president and head of its Consumer Lending organization, has been dismissed.Wells Fargo & Co - expects to announce a permanent successor to head consumer lending by end of year​.Wells Fargo & Co - ‍in interim, heads of group's four main lines of business will report to Tim Sloan​.Wells Fargo- dismissal was result of Codel's acting in "manner that was contrary" to co's policies during communication he had with former team member​.Wells Fargo - ‍reasons for dismissal did not involve business/ operations of Consumer Lending, servicing of customers/ performance or financial results​.  Full Article

Wells Fargo introduces new feature to automatically "rewind" overdrafts that are assessed on customers' accounts at a vulnerable time​
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Wells Fargo & Co :Wells Fargo & Co - introduced a new feature that will automatically "rewind" overdrafts that are assessed on customers' accounts at a vulnerable time​.Wells Fargo - will not charge overdraft/ insufficient funds fees if covering direct deposit is received morning after account is overdrawn for new feature​.Wells Fargo & Co - ‍also announced that it will no longer charge overdraft fees for any transaction of $5 or less​.Wells Fargo & Co - ‍automatic feature "rewinds" overdrafts when a covering direct deposit is received next morning​.  Full Article

UPDATE 1-Asia Morning Call-Global Markets

Jan 15 Stock Markets Net Chng Stock Markets Net Chng S&P/ASX 200** 6,070.10 2.5 NZX 50** 8,242.35 -8.09 DJIA 25,803.19 228.46 NIKKEI** 23,653.82 -56.61 Nasdaq 7,261.062 49.29 FTSE** 7,778.64 15.70 S&P 500 2,786.24 18.68 Hang Seng** 31,412.54 292.15 SPI 200 Fut 6049.0 31.0 STI**