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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

56.41USD
20 Jul 2018
Change (% chg)

$0.08 (+0.14%)
Prev Close
$56.33
Open
$56.04
Day's High
$56.65
Day's Low
$55.85
Volume
5,861,670
Avg. Vol
5,430,291
52-wk High
$66.31
52-wk Low
$49.28

Latest Key Developments (Source: Significant Developments)

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
Friday, 6 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

Wells Fargo And American Express Introduce New Propel Card
Monday, 25 Jun 2018 

June 25 (Reuters) - American Express Co ::WELLS FARGO AND AMERICAN EXPRESS INTRODUCE NEW PROPEL CARD.  Full Article

Wells Fargo to restructure wealth management business - WSJ
Tuesday, 19 Jun 2018 

June 18 (Reuters) - :WELLS FARGO PLANS TO RESTRUCTURE WEALTH MANAGEMENT BUSINESS; CO TO MERGE WEALTH BROKERAGE SERVICES, PRIVATE CLIENT GROUP - WSJ, CITING SOURCES.  Full Article

Wells Fargo Asset Management Expands Multi-Asset Solutions Team
Tuesday, 29 May 2018 

May 29 (Reuters) - Wells Fargo Asset Management :WELLS FARGO ASSET MANAGEMENT EXPANDS MULTI-ASSET SOLUTIONS TEAM.WELLS FARGO ASSET MANAGEMENT SAYS EDDIE CHENG JOINED FIRM AS HEAD OF INTERNATIONAL PORTFOLIO MANAGEMENT WITHIN MULTI-ASSET SOLUTIONS TEAM.  Full Article

Wells Fargo’S Steve Ellis To Retire Digital Transformation Executive Lisa Frazier Joins Company To Lead Innovation
Tuesday, 22 May 2018 

May 22 (Reuters) - Wells Fargo & Co ::WELLS FARGO’S STEVE ELLIS TO RETIRE; DIGITAL TRANSFORMATION EXECUTIVE LISA FRAZIER JOINS COMPANY TO LEAD INNOVATION.WELLS FARGO & CO - ELLIS WILL RETIRE IN SEPTEMBER.WELLS FARGO & CO - IN SEPTEMBER, LISA FRAZIER WILL BECOME HEAD OF GROUP.WELLS FARGO & CO - FRAZIER WILL JOIN COMPANY ON MAY 29 AND WILL BE BASED IN SAN FRANCISCO.WELLS FARGO & CO - STEVE ELLIS, HEAD OF INNOVATION GROUP, WILL RETIRE.  Full Article

Wells Fargo & Co Announces 'Pay With Wells Fargo'
Thursday, 10 May 2018 

May 10 (Reuters) - Wells Fargo & Co ::WELLS FARGO & CO - ANNOUNCED 'PAY WITH WELLS FARGO'.  Full Article

Wells Fargo's 401(k) Practices Probed by Labor Department - WSJ
Thursday, 26 Apr 2018 

April 26 (Reuters) - :WELLS FARGO'S 401(K) PRACTICES PROBED BY LABOR DEPARTMENT - WSJ, CITING SOURCE.  Full Article

Wells Fargo & Sets Quarterly Dividend Of $0.39Per Share
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Wells Fargo & Co ::SETS QUARTERLY DIVIDEND OF $0.39PER SHARE.  Full Article

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Wells Fargo in process of refunding customers for add-on products: WSJ

Wells Fargo & Co is in the process of refunding millions of dollars to customers for adding services to their accounts without their full understanding, the Wall Street Journal reported on Thursday, citing sources.