Wells Fargo Co Stock Price, News & Analysis

Wells Fargo (NYSE: WFC) has announced a definitive agreement to sell its rail equipment leasing business assets to a joint venture between GATX Corporation and Brookfield Infrastructure. The transaction includes Wells Fargo's entire rail operating lease assets portfolio, with a book value of approximately $4.4 billion, along with the rail finance lease portfolio.

The deal is expected to close in Q1 2026 or earlier, subject to customary closing conditions. According to the company, this move aligns with Wells Fargo's strategy of simplifying its businesses and focusing on core client services. The sale is not anticipated to materially impact Wells Fargo's financial position or earnings.

Wells Fargo (NYSE: WFC) has announced the termination of the Office of the Comptroller of the Currency's (OCC) 2015 agreements related to the company's previous financial subsidiaries. This marks a significant milestone in the bank's regulatory compliance journey, representing the thirteenth consent order closed by Wells Fargo's regulators since 2019 and the seventh since the start of the year. The bank now has only one remaining consent order - the 2018 agreement with the Federal Reserve Board.

Wells Fargo (NYSE: WFC) has announced that CEO Charlie Scharf will deliver a presentation at the upcoming Bernstein Strategic Decisions Conference on May 28, 2025 at 8:00 a.m. ET. The presentation will be accessible via live webcast on Wells Fargo's investor relations website, with a replay available for three months after the event.

Wells Fargo (NYSE: WFC) has declared quarterly cash dividends on six series of preferred stock, all payable on June 16, 2025, to holders of record as of May 30, 2025. The dividends include:

• Series L: $18.75 per share (7.50% noncumulative perpetual convertible)
• Series Y: $351.56 per share (5.625% noncumulative perpetual)
• Series Z: $296.88 per share (4.75% noncumulative perpetual)
• Series AA: $293.75 per share (4.70% noncumulative perpetual)
• Series CC: $273.44 per share (4.375% noncumulative perpetual)
• Series DD: $265.63 per share (4.25% noncumulative perpetual)

Wells Fargo is a leading financial services company with approximately $1.9 trillion in assets and ranked No. 34 on Fortune's 2024 rankings of America's largest corporations.

Wells Fargo (WFC) has announced a new $20 million philanthropic program called 'Open for Business Growth' aimed at supporting small businesses ready for expansion. The program will initially launch in Chicago before expanding nationwide. The first recipient, Allies for Community Business, receives a $2.5 million grant to pilot a revenue-based financing model and expand its construction loan program with HIRE360.

The initiative targets the 'missing middle' of small businesses - those beyond microloans but not yet eligible for traditional financing. This program builds on Wells Fargo's previous $420 million Open for Business Fund, which helped approximately 336,000 small businesses and supported 461,000 jobs during the pandemic. Through the Chicago pilot, Allies for Community Business expects to generate up to 260 local jobs as businesses execute larger contracts.

Wells Fargo (NYSE: WFC) has announced the complete redemption of its Series U Preferred Stock and related depositary shares, scheduled for June 16, 2025. The bank will redeem all 80,000 outstanding shares of its 5.875% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series U, along with 2,000,000 outstanding depositary shares. The redemption price is set at $25,000.00 per Preferred Share and $1,000.00 per Depositary Share.

Regular quarterly dividends will be paid separately on June 16, 2025, to holders of record as of May 30, 2025. Computershare Trust Company, N.A. will serve as the redemption agent, handling the payment distribution to shareholders on the redemption date.

Wells Fargo (WFC) and Operation HOPE have introduced HOPE Inside for Small Business, a free financial coaching program for small business customers. The program launches in Los Angeles (Baldwin Hills and Van Nuys) and Charlotte, expanding on the existing HOPE Inside program established in 2022.

The new centers will offer specialized resources including business plan development, access to capital education, and one-on-one coaching for entrepreneurs. This expansion is part of Wells Fargo's Banking Inclusion Initiative, aiming to reach 50 markets by 2026. Currently, there are 30 HOPE Inside centers serving over 100 branches, having helped more than 11,000 clients since 2022.

Services are available at no cost to all community members, regardless of Wells Fargo customer status. The program operates through redesigned Wells Fargo branches, featuring Operation HOPE financial coaches focused on fostering financial inclusion and economic empowerment.