Wells Fargo Co Stock Price, News & Analysis

The Wells Fargo Utilities and High Income Fund (ERH) released a shareholder notice detailing its distribution sources, emphasizing that a portion may be a return of capital. This means some money invested could be returned to shareholders, which doesn't necessarily indicate investment performance. The notice includes estimates of net investment income, capital gains, and paid-in capital for the current month and fiscal year-to-date. The fund's managed distribution plan aims for a minimum annual rate of 7.0% based on average net asset value over the past 12 months.

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.