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 & Co. (NYSE: WFC) is a leading American multinational financial services company with an extensive global presence, operating in 35 countries and serving over 70 million customers worldwide. With approximately $1.9 trillion in assets, it stands as one of the largest banks in the United States.
The company’s operations are divided into four primary segments:
- Consumer Banking: Offering a wide range of financial products and services including checking and savings accounts, mortgages, credit cards, and personal loans.
- Commercial Banking: Providing financial solutions for businesses, including loans, credit, treasury management, and merchant services.
- Corporate and Investment Banking: Delivering investment banking services, capital markets, and advisory services to corporate clients.
- Wealth and Investment Management: Offering investment products, retirement solutions, and wealth management services.
Wells Fargo focuses almost entirely on the U.S. market and has a significant impact on both the national and global financial landscape. The company is involved in numerous initiatives and partnerships that emphasize sustainability and community development. For example, it has recently supported new research at the intersection of housing and climate policy, recognizing the critical need for sustainable and affordable housing solutions as climate change intensifies.
In 2024, Wells Fargo’s philanthropic efforts included a $500,000 commitment to support the construction of 3D-printed homes in underserved communities through a partnership with ICON and Mobile Loaves & Fishes. This initiative, part of the Initiative 99 competition, aims to make affordable housing more accessible and innovative.
Additionally, Wells Fargo has been instrumental in empowering women entrepreneurs through the establishment of a Women's Business Center in South Los Angeles, in collaboration with the Vermont Slauson Economic Development Corporation (VSEDC) and the Small Business Administration (SBA). This center provides essential resources such as coaching, mentorship, and access to capital, focusing on the unique challenges faced by women-owned businesses, particularly those owned by women of color.
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Wells FargoCooper Gardens (WFC) is a sustainable housing project developed in partnership with St. Barnabas Hospital and L+M Development Partners in the Bronx. Completed in 2019, the $156 million, 450,000-square-foot project provides underserved communities with fresh produce, solar energy, and support services. The development received a 99 out of 100 rating on the EPA's ENERGY STAR Portfolio Manager, showcasing its commitment to sustainability.
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Wells Fargo Investment Institute (WFII) released its '2024 Outlook' report, predicting a challenging first half of the year due to a global economic slowdown, followed by an improving, more opportunistic environment in the second half. WFII advises using accumulated fixed-income assets to invest later in the year and anticipates opportunities in a broad early-cycle global recovery later in 2024. The report forecasts a moderate U.S. economic slowdown, with a 0.7% GDP target for 2024 and a 2.5% inflation target. WFII also expects the S&P 500 Index to gain into year-end, with a target range of 4,600 – 4,800, and predicts two quarter-point Fed rate cuts in 2024, causing the federal funds rate forecast to decline toward 4.75% – 5.00%.
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Wells Fargo & Company (WFC) CEO to Present at Goldman Sachs Financial Services Conference
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Wells Fargo & Company (NYSE: WFC) has announced a $1.5 million philanthropic investment in the Russell Innovation Center for Entrepreneurs (RICE) to support small businesses in Atlanta and beyond. The investment aims to develop small businesses, facilitate access to capital, curate dedicated learning spaces, and expand RICE's reach and impact. Wells Fargo's investment will fund programming, access to capital, placemaking, and the development of a digital learning platform. The investment is consistent with Wells Fargo's commitment to advance economic equity and create opportunities for small business growth.
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Wells Fargo & Company (NYSE: WFC) Announces Dividends on Seven Series of Preferred Stock. Wells Fargo declared quarterly cash dividends for seven series of preferred stock, including noncumulative perpetual convertible class A preferred stock, Series L, fixed-to-floating noncumulative perpetual class A preferred stock, Series R, and noncumulative perpetual class A preferred stock, Series Y, Z, AA, CC, and DD.
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Wells Fargo: Six Full-Time Bank On Fellows Selected to Lead Coalitions to Increase Banking Access with $1 Million Funding from Wells Fargo Foundation. The goal is to expand banking access for unbanked residents in Arizona, California, Ohio, Kentucky, Louisiana, and New Mexico. The Bank On National Account Standards aim to ensure everyone has access to safe and affordable financial products and services.
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Wells Fargo Foundation and Enterprise Community Partners Announce Winners of 2023 Housing Affordability Breakthrough Challenge, Awarding $20 Million to Six Organizations. The winners will receive grants and support to scale innovative housing solutions across the U.S., including workforce training, financing housing in rural communities, and reducing carbon footprint in multifamily buildings.
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Wells Fargo is partnering with Allspring Global Investments to launch a Tribal Inclusion share class for the Allspring Government Money Market Fund, exclusively for Wells Fargo corporate clients. This is the first money market product with a charitable donation feature focused on benefiting tribal communities in the United States.
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Wells Fargo's Vice Chairman, Thomas R. Nides, is leaving the company to focus on events in the Middle East. William M. Daley will return to his prior role. Wells Fargo will search for Daley's replacement. Nides plans to work with organizations in the Middle East to provide assistance. CEO Charlie Scharf supports Nides' decision.
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Wells Fargo CEO of Consumer Lending to present at BancAnalysts Association of Boston Conference on Nov. 2, 2023.
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FAQ
What is the current stock price of Wells Fargo & Co. (WFC)?
The current stock price of Wells Fargo & Co. (WFC) is $77.32 as of January 24, 2025.
What is the market cap of Wells Fargo & Co. (WFC)?
The market cap of Wells Fargo & Co. (WFC) is approximately 255.1B.
What are the main business segments of Wells Fargo?
Wells Fargo operates in four primary segments: Consumer Banking, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
What recent initiatives has Wells Fargo undertaken to address housing and climate policy?
Wells Fargo has supported new evidence-based research at the intersection of housing and climate policy and committed $500,000 to support the construction of 3D-printed affordable homes through a partnership with ICON and Mobile Loaves & Fishes.
How does Wells Fargo support women entrepreneurs?
Wells Fargo has partnered with the Vermont Slauson Economic Development Corporation and the Small Business Administration to establish a Women's Business Center in South Los Angeles, providing essential resources such as coaching, mentorship, and access to capital.
What is the financial condition of Wells Fargo?
Wells Fargo has approximately $1.9 trillion in assets, making it one of the largest banks in the United States.
How many customers does Wells Fargo serve?
Wells Fargo serves over 70 million customers worldwide.
What is the focus of Wells Fargo's social impact efforts?
Wells Fargo focuses its social impact efforts on building a sustainable, inclusive future by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
In how many countries does Wells Fargo operate?
Wells Fargo operates in 35 countries worldwide.
What recognition has Wells Fargo received recently?
Wells Fargo ranked No. 47 on Fortune's 2023 rankings of America's largest corporations.
What type of products and services does Wells Fargo offer to consumers?
Wells Fargo offers a wide range of financial products and services, including checking and savings accounts, mortgages, credit cards, and personal loans.
How is Wells Fargo contributing to affordable housing solutions?
Wells Fargo is contributing to affordable housing solutions through initiatives like the 3D-printed home project with ICON and Mobile Loaves & Fishes, which aims to create affordable homes for underserved communities.
Wells Fargo & Co.
NYSE:WFC
WFC Rankings
WFC Stock Data
255.09B
3.29B
0.07%
76.98%
1.13%
Banks - Diversified
National Commercial Banks
United States of America
SAN FRANCISCO