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.
Wells Fargo Asset Management has appointed Harindra de Silva and Dennis Bein as portfolio managers for the Wells Fargo Global Dividend Opportunity Fund (NYSE: EOD), joining current manager Megan Miller. The fund maintains its investment strategy, emphasizing a high level of current income and long-term capital growth. With extensive backgrounds in investment management, de Silva and Bein bring significant expertise to the fund's strategy. This change aims to enhance portfolio management but does not indicate any change in the fund's philosophy.
Wells Fargo (NYSE: WFC) declared a quarterly dividend of $0.10 per share, payable on June 1, 2021 to stockholders of record by May 7, 2021. The decision was approved by the board of directors. The company has approximately 4.1 billion shares outstanding. With assets around $1.9 trillion, Wells Fargo serves a significant portion of U.S. households and businesses, providing a range of financial services across various segments.
Wells Fargo (NYSE: WFC) shareholders have elected 12 nominees as directors, approved an advisory proposal on 2020 executive compensation, and ratified KPMG LLP as the independent public accounting firm for 2021. However, four shareholder proposals were not approved at the meeting. The results of the voting will be reported in a Form 8-K filed with the SEC.
Wells Fargo is a leading financial services company with approximately $1.9 trillion in assets, serving one in three U.S. households.
Wells Fargo (NYSE: WFC) announced that David Galloreese, head of Human Resources, will depart the company on April 23, 2021, for another opportunity. Kleber Santos, currently leading Diverse Segments, Representation and Inclusion, will serve as interim HR head during the search for a successor. CEO Charlie Scharf commended Galloreese for his significant contributions since 2018, especially during recent organizational changes. Santos' leadership is expected to ensure continuity during this transition.
Wells Fargo (NYSE: WFC) has announced its financial results for Q1 2021. The company reported approximately $1.9 trillion in assets and serves over 10% of middle market companies in the U.S. During the earnings call, insights on growth strategies and future expectations will be discussed. For more information on the results, visit Wells Fargo Investor Relations.
Wells Fargo announced equity investments in five African American Minority Depository Institutions (MDIs), part of a $50 million pledge to support Black-owned banks. The investments aim to enhance the financial capacity of these institutions and strengthen their communities. The selected MDIs are Carver State Bank, Citizens Trust Bank, First Independence Bank, Liberty Bank, and Unity National Bank. Wells Fargo’s initiative aims to bolster lending and deposit capabilities in minority communities, contributing to the economic revitalization of historically underserved areas.
Wells Fargo has entered a 20-year renewable energy agreement to source 100% solar energy from the 58-megawatt Blackburn Solar Project in North Carolina. This deal, the largest of its kind for Wells Fargo, will supply approximately 8% of its annual electricity needs, using around 200,000 solar panels. The initiative aligns with the company's commitment to net-zero greenhouse gas emissions by 2050 and aims to create about 100 construction jobs while contributing approximately $2.3 million in local tax revenue.
Wells Fargo & Company (NYSE: WFC) will report its first quarter 2021 earnings on April 14, 2021, at 8 a.m. ET. Investors can access results online at Wells Fargo Investor Relations and the SEC website. A live conference call will follow at 10 a.m. ET, with dial-in options for U.S. and international listeners. A replay will be available from April 14 through April 28. Wells Fargo, a financial services leader with $1.9 trillion in assets, serves approximately one in three U.S. households.
Wells Fargo & Company (NYSE: WFC) has announced its earnings release schedule for 2022, including conference call dates for each quarter. The first quarter results will be available on April 14, 2022, followed by the second quarter on July 15, 2022, the third quarter on October 14, 2022, and the fourth quarter on January 18, 2023. The company continues to emphasize its commitment to providing a diversified set of financial services to over 10% of middle market companies in the U.S., with approximately $1.9 trillion in assets.
The Wells Fargo Utilities and High Income Fund (ERH) has issued a Notice to shareholders outlining the sources of its recent distributions. It emphasizes that a part of the distribution may be a return of capital, highlighting that this should not be mistaken for income or yield.
As of March 31, 2021, the estimated per-share distribution is $0.07067, with 63.50% sourced from net investment income. The Fund operates under a Managed Distribution Plan, aiming for a fixed annual rate of 7.0% on average monthly net asset value. Tax reporting for distributions will be finalized after the fiscal year.
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