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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

53.11USD
25 Apr 2018
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Latest Key Developments (Source: Significant Developments)

Gibraltar Business Capital Joins Hercules Capital As New Portfolio Company
Monday, 5 Mar 2018 

March 5 (Reuters) - Gibraltar Business Capital::GIBRALTAR BUSINESS CAPITAL JOINS HERCULES CAPITAL AS NEW PORTFOLIO COMPANY.SAYS WILL CONTINUE TO OPERATE AS INDEPENDENT SENIOR SECURED ASSET-BASED LENDER & REMAIN AT HEADQUARTERS IN NORTHBROOK.  Full Article

Wells Fargo Says Longest Serving Directors To Retire
Friday, 2 Mar 2018 

March 1 (Reuters) - Wells Fargo & Co ::WELLS FARGO & CO - JOHN CHEN, LLOYD DEAN, ENRIQUE HERNANDEZ JR, & FEDERICO PEÑA HAVE DECIDED TO RETIRE AT CO'S 2018 ANNUAL MEETING OF SHAREHOLDERS.WELLS FARGO & CO - ‍BOARD WILL NOMINATE 12 OF ITS CURRENT DIRECTORS FOR ELECTION AT COMPANY'S ANNUAL MEETING​.  Full Article

Wells Fargo Reviews Activities In Wealth & Investment Management Business
Friday, 2 Mar 2018 

March 1 (Reuters) - Wells Fargo & Co ::WELLS FARGO- HIGH END OF RANGE OF REASONABLY POSSIBLE POTENTIAL LOSSES IN EXCESS OF ACCRUAL FOR PROBABLE AND ESTIMABLE LOSSES WAS ABOUT $2.7 BILLION AS OF DEC 31, 2017.WELLS FARGO - UNABLE TO DETERMINE WHETHER RESOLUTION OF MORTGAGE REGULATORY INVESTIGATIONS/ SALES PRACTICES MATTERS TO HAVE ADVERSE EFFECT ON FINANCIAL CONDITION‍​‍​.WELLS FARGO - REVIEW OF SOME ACTIVITIES IN WEALTH & INVESTMENT MANAGEMENT BEING CONDUCTED BY BOARD, IN RESPONSE TO INQUIRIES FROM FEDERAL GOVERNMENT AGENCIES‍​.WELLS FARGO - BOARD REVIEW ASSESSING IF THERE HAVE BEEN INAPPROPRIATE REFERRALS/ RECOMMENDATIONS IN WIM, INCLUDING ROLLOVERS FOR 401(K) PLAN PARTICIPANTS.WELLS FARGO - BOARD REVIEW ALSO ASSESSING IF THERE HAVE BEEN INAPPROPRIATE REFERRALS/ RECOMMENDATIONS IN WIM, INCLUDING CERTAIN ALTERNATIVE INVESTMENTS‍​.WELLS FARGO - REVIEW ASSESSING IF INAPPROPRIATE REFERRALS IN WIM, INCLUDING REFERRALS OF BROKERAGE CUSTOMERS TO INVESTMENT, FIDUCIARY, SERVICES UNIT.WELLS FARGO SAYS THE BOARD REVIEW OF ACTIVITIES WITHIN WEALTH AND INVESTMENT MANAGEMENT IS IN ITS PRELIMINARY STAGES - SEC FILING‍​.WELLS FARGO & CO - THE COMPANY IS REVIEWING POLICIES, PRACTICES, AND PROCEDURES IN ITS FOREIGN EXCHANGE BUSINESS‍​.WELLS FARGO & CO - CO IS ALSO RESPONDING TO INQUIRIES FROM GOVERNMENT AGENCIES IN CONNECTION WITH THEIR REVIEWS OF CERTAIN ASPECTS OF FX BUSINESS‍​.  Full Article

Popular Has Agreed To Acquire Wells Fargo’S Auto Finance Business In Puerto Rico
Thursday, 15 Feb 2018 

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 

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
Saturday, 3 Feb 2018 

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 

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
Wednesday, 24 Jan 2018 

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 

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

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Wells Fargo investors back leaders despite protests

DES MOINES, Iowa/NEW YORK Wells Fargo & Co investors gave strong backing to the bank's directors and executives on Tuesday, indicating they are ready to give its revamped leadership time to rebuild from scandal despite a noisy annual shareholder meeting.