|Bid||54.38 x 3200|
|Ask||54.39 x 900|
|Day's Range||53.69 - 54.41|
|52 Week Range||43.02 - 54.75|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||11.70|
|Forward Dividend & Yield||2.04 (3.83%)|
|1y Target Est||N/A|
“While this year was largely characterized by a tug-of-war between substantial geopolitical drags and offsetting global monetary policy easing, ironically all equity asset classes, and even several fixed income asset classes, have delivered double-digit returns, despite these concerns,” said Darrell Cronk, president of WFII and chief investment officer of Wells Fargo Wealth & Investment Management. Credit spreads (fixed income) must remain well-behaved.
Wells Fargo & Company (WFC) today announced that Scott Powell has been named chief operating officer effective Dec. 9, 2019. Powell most recently was CEO of Santander Holdings USA, Inc. as well as CEO of Santander Consumer USA Holdings Inc., a publicly traded consumer finance company focused on vehicle finance and third-party servicing. “I have known Scott for many years, and his tremendous experience, proven track record and unquestioned integrity will make him a great addition to our management team,” Scharf said.
Wells Fargo today announced that Jenny Flores will join the company to lead its small business growth philanthropy, and company veteran Darlene Goins has been named head of financial health philanthropy. Both will be based in San Francisco. Flores begins work Jan. 6, 2020, and Goins assumes her leadership role effective immediately.
Wells Fargo & Company said today that Chief Financial Officer John Shrewsberry will participate at the Goldman Sachs US Financial Services Conference 2019 in New York on Tuesday, December 10, 2019, at 7:50 a.m.
Wells Fargo & Company said today that members of the Company’s Consumer Banking and Investor Relations teams are scheduled to meet with investors on Thursday, December 5, 2019.
Today Wells Fargo announced upcoming changes in its Payments, Virtual Solutions and Innovation (PVSI) group. Avid Modjtabai, senior executive vice president and head of PVSI, has announced her plan to retire on March 31, 2020. “Avid has held many important roles at Wells Fargo during her impressive 26-year career as the company’s leader in several areas including Internet Services, Human Resources, Technology and Operations and Consumer Lending,” said Charlie Scharf, Wells Fargo CEO and president.
Charitable giving is nearly universal among upper-income U.S. investors, according to a new Wells Fargo/Gallup Investor and Retirement Optimism study. Nearly all upper-income investors (93%) report they donated money to a non-faith-based organization in the past year, and 59% report giving to a faith-based organization. Giving also is an important core value to most investors, as six in 10 say that donating or spending a percentage of their income to help others is an extremely or very important financial value to them.
Wells Fargo and Company (WFC), NeighborWorks® America, and its network member Portland Housing Center today announced the NeighborhoodLIFT program will expand to the city of Portland and Multnomah County this December. With a $7.1 million philanthropic commitment by the Wells Fargo Foundation, the NeighborhoodLIFT program will create more than 270 homeowners by offering $20,000 down payment assistance grants that require completion of HUD-certified homebuyer education.
Wells Fargo (WFC) announced today that its corporate customers can now send real-time payments through the RTP® network via an application programming interface (API), enabling the immediate movement of money and expanding the bank’s faster payments offerings. Wells Fargo previously rolled out capabilities for both retail and wholesale customers to receive payments over the RTP network at the end of 2018. Wells Fargo’s API for the RTP network allows corporate customers to send payments directly from their enterprise software or treasury workstations, meaning they can benefit from the platform’s speed and immediate posting to help optimize cash flow.
The Wells Fargo Foundation has made a historic $10 million grant to NALCAB — National Association for Latino Community Asset Builders — to support growth-oriented lending to minority-owned businesses nationwide through a network of Latino-led nonprofit business lenders. The new Acceso Loan Fund is designed to help diverse entrepreneurs scale to a greater size — expanding their revenue, impact on the economy and ability to provide jobs. The Acceso Loan Fund will provide small business loans in the range of $50,000–$500,000.
Wells Fargo & Company today announced that General Counsel C. Allen Parker has made the decision to leave the company effective March 31, 2020, to pursue other business opportunities. Parker joined Wells Fargo as General Counsel in March 2017, served as interim CEO and President from March 2019 to October 2019, and then returned to the General Counsel role. The company will commence a search for a new General Counsel immediately with the goal being that Parker will assist in a smooth transition to the new General Counsel.
Wells Fargo & Company (WFC) today announced that Kara McShane has been named head of Commercial Real Estate (CRE) within the company’s Wholesale Banking group. “Kara is an exceptional leader who has made a significant impact on our CRE business since joining our company nine years ago,” said Perry Pelos, head of Wholesale Banking. McShane joined Wells Fargo in 2010 and has held various senior roles within CRE and Asset-Backed Finance.
10 companies join partnership to boost clean technologies, decrease energy costs, make housing more affordable
Wells Fargo & Company (WFC) today announced its third annual Holiday Food Bank program to help provide food to people and families in need during the holiday season. Wells Fargo launched the program with a donation of up to $5 million to Feeding America® through direct donations and charitable matching. Feeding America is the largest domestic hunger-relief organization in the U.S. with 200 member food banks across the U.S. The organization estimates that, with every $1 contribution providing at least 10 meals, Wells Fargo will help provide more than 50 million meals for people in need.
Wells Fargo & Company (WFC) today announced that William M. Daley has been named Vice Chairman of Public Affairs, effective November 13, 2019. Daley will serve on the Operating Committee and will report directly to CEO Charles Scharf. “I am delighted to welcome Bill to Wells Fargo,” said Scharf.
Small business owners showed continued optimism for their businesses and the U.S. economy in the latest Wells Fargo/Gallup Small Business Index. Optimism from business owners about their present and future financial situations saw slight increases, with scores of 67 and 75 respectively. One indicator tempering this optimism is that a third of business owners (33 percent) said an economic downturn is either “very” or “extremely” likely in the next 12 months, though two-thirds said they are somewhat or very prepared for such an occurrence.
Wells Fargo & Company (WFC) today announced that Mark Myers, Executive Vice President and head of Commercial Real Estate (CRE) within the company’s Wholesale Banking group, has shared his intention to retire. Wells Fargo expects to announce a new head of Commercial Real Estate in the coming weeks. “Throughout his 39 year tenure at Wells Fargo, Mark has played a critical role in some of Wholesale’s most significant business initiatives,” said Perry Pelos, head of Wholesale Banking.
Wells Fargo & Co. (WFC) announced the company has donated more than $170 million overall since 2012 to military- and veteran-related nonprofits that support housing, career transition, financial education and more. Donated more than 400 mortgage-free homes, valued at more than $60 million, to support veterans in all 50 states, and through several programs provided more than $26 million in grants to support sustainable housing and homeownership for veterans. Sponsored the donation of more than 30 vehicles — plus financial mentoring — to veterans and Gold Star families across the U.S., with a value of more than $1 million.
Wells Fargo Real Estate Investment Corporation today announced it will redeem on Dec. 11, 2019 all of its 6.375% Cumulative Perpetual Series A Preferred Stock, Liquidation Preference $25 per share.
Recent wildfires have had a devastating effect on California and its residents. With a continuing commitment to local communities, Wells Fargo & Company (WFC) today announced a $400,000 donation from the Wells Fargo Foundation to aid in the state’s relief efforts as well as accommodations for affected customers, team members and more.
Wells Fargo Bank, N.A., said today it is decreasing its prime rate to 4.75 percent from 5.00 percent, effective tomorrow, Oct. 31, 2019.