Welcome to our dedicated page for Wells Fargo Co news (Ticker: WFC), a resource for investors and traders seeking the latest updates and insights on Wells Fargo Co stock.
Wells Fargo & Company (NYSE: WFC) is a leading financial services institution providing banking, lending, and wealth management solutions worldwide. This page serves as a centralized resource for all official news, press releases, and regulatory filings related to the company.
Investors and financial professionals will find timely updates on earnings announcements, strategic initiatives, leadership changes, and product innovations. Our curated collection ensures easy access to critical developments across Wells Fargo's consumer banking, commercial finance, and investment management segments.
Key updates include quarterly financial results, mergers and acquisitions, regulatory compliance actions, and community impact initiatives. Bookmark this page to stay informed about WFC's market positioning, operational adjustments, and responses to evolving industry trends.
Rebuilding Together has launched the Heirs' Property pilot initiative to tackle the issue of tangled titles, which occurs when homes are passed without a will, resulting in unclear ownership. The initiative, supported by Wells Fargo, aims to provide educational outreach, legal assistance, and estate planning services to families in Philadelphia, Baton Rouge, and Kent County, Md. The program's success could lead to wider implementation. In Philadelphia alone, over 10,400 homes have unclear ownership, valued at over $1.1 billion. Since 2010, Wells Fargo has donated over $19 million to support Rebuilding Together's efforts.
Grameen America, a leading nonprofit microfinance organization, has opened a new branch in Phoenix, Arizona, with significant support from the Wells Fargo Foundation. Wells Fargo has granted $3.25 million over three years to assist in expanding Grameen America's services to Phoenix and enhancing its technology platforms.
Grameen America aims to provide affordable loan capital, financial education, and peer support to low-income women entrepreneurs. The Phoenix branch has already disbursed over $327,000 in microloans to more than 130 women, with a target of distributing nearly $14 million by 2026. The region exhibits a strong entrepreneurial culture, evidenced by a 13.7% growth rate in women-owned businesses.
The grant also supports the rollout of a member mobile app to streamline operations and improve member experience. Wells Fargo's contribution is part of a broader initiative to support small business growth and economic development.
Wells Fargo announced that CEO Charlie Scharf will present at the 40th Annual Bernstein Strategic Decisions Conference on May 29, 2024, at 8:00 a.m. ET. This event will be available for live streaming and replay on the company's investor relations website.
The Vermont Slauson Economic Development (VSEDC) has been designated as one of 17 new Small Business Administration (SBA) Women's Business Centers. This new center, powered by Wells Fargo, will launch on May 22, 2024, featuring remarks by Los Angeles Mayor Karen Bass.
The center aims to provide coaching, mentorship, access to capital, and business education to women entrepreneurs. It is the first SBA Women's Business Center in South Los Angeles and one of 20 in California, focusing on helping women scale their enterprises through strategic planning, financial management, and more.
Black women, the fastest-growing group of entrepreneurs, will significantly benefit from this initiative. The VSEDC WBC will offer resources to help women overcome historic challenges in entrepreneurship, particularly those related to access to capital and comprehensive business support.
Wells Fargo & Company (NYSE: WFC) announced quarterly cash dividends on six series of preferred stock.
The dividends include $18.75 per share for the 7.50% noncumulative perpetual convertible class A preferred stock, Series L; $351.56 per share for the 5.625% noncumulative perpetual class A preferred stock, Series Y; $296.88 per share for the 4.75% noncumulative perpetual class A preferred stock, Series Z; $293.75 per share for the 4.70% noncumulative perpetual class A preferred stock, Series AA; $273.44 per share for the 4.375% noncumulative perpetual class A preferred stock, Series CC; and $265.63 per share for the 4.25% noncumulative perpetual class A preferred stock, Series DD.
These dividends are all payable on June 17, 2024, to holders of record as of May 31, 2024.
Wells Fargo is a leading financial services company with approximately $1.9 trillion in assets, ranked No. 47 on Fortune's 2023 rankings of America's largest corporations.
Wells Fargo & Company (NYSE: WFC) announced the full redemption of its Series S Preferred Stock and related depositary shares. On June 15, 2024, all outstanding shares of the Series S Preferred Stock and related depositary shares will be redeemed. The redemption price is set at $25,000.00 per Redeemed Series S Preferred Share and $1,000.00 per Redeemed Series S Depositary Share. After the redemption, no shares of either will remain outstanding.
Wells Fargo & Company announced that Fernando Rivas will join as Co-CEO of Corporate & Investment Banking, bringing decades of experience from JP Morgan Chase. This move aims to enhance the bank's capabilities, deepen relationships, and drive revenue growth. Rivas' strategic expertise and industry knowledge are expected to contribute to Wells Fargo's continued success in the financial services sector.
Wells Fargo's Growing Diverse Housing Developers program aims to increase equity by providing diverse real estate developers with training, networks, grant capital, and resources to expand affordable housing production. This initiative supports developers of color, both nonprofit and for-profit, in creating greater access to affordable housing nationwide. The program is funded by the Wells Fargo Foundation and implemented through a $30 million grant.
Wells Fargo & Company (NYSE: WFC) has announced a quarterly common stock dividend of $0.35 per share, payable in June 2024, to stockholders of record in May 2024. The company, with approximately $1.9 trillion in assets, offers a wide range of financial services through various segments. Wells Fargo ranks No. 47 on Fortune's list of America's largest corporations, focusing on social impact initiatives.
Wells Fargo announced the results of its 2024 Annual Meeting of Shareholders, electing 13 director nominees, including a new independent director, Fabian T. Garcia. The shareholders also approved various proposals related to executive compensation and voting standards.
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