|Bid||24.24 x 1000|
|Ask||24.33 x 800|
|Day's range||23.95 - 24.31|
|52-week range||17.28 - 27.15|
|Beta (5Y monthly)||1.15|
|PE ratio (TTM)||5.98|
|Forward dividend & yield||1.41 (5.79%)|
|1y target est||N/A|
Banks were supposed to start processing loan applications on Thursday at midnight from small businesses under the $349 billion Paycheck Protection Program, but they weren't prepared for the onslaught.
The Wells Fargo Utilities and High Income Fund (NYSE American: ERH) released information about the sources of today’s distribution in a Notice provided to shareholders. The full text of the Notice is available below and on the Wells Fargo Asset Management website.
Wells Fargo Innovation Incubator Announces Partner Awards to Support Network of Cleantech Startup Champions.
The Wells Fargo Income Opportunities Fund (NYSE American: EAD), the Wells Fargo Multi-Sector Income Fund (NYSE American: ERC), and the Wells Fargo Utilities and High Income Fund (NYSE American: ERH) have each announced a distribution.
Can you wash money that you think has been contaminated with coronavirus? Should you? How can you deposit or withdraw money right now?
The bank approached the Fed about a temporary or permanent lifting of the $1.95 trillion asset cap, which has curbed its growth and profitability since it was imposed in 2018, the FT said https://www.ft.com/content/af0c45a8-6afa-11ea-800d-da70cff6e4d3 on Saturday, citing people familiar with the matter. Removing the cap has been a priority for Chief Executive Charles Scharf and the issue has become acute as the Fed tries to encourage banks to extend credit to customers facing income shortfalls, FT said.
, saying it would allow the US bank to extend support to businesses and customers hit by the economic fallout of the coronavirus pandemic. People familiar with the situation said the San Francisco-based bank approached the Fed about a temporary or permanent lifting of the $1.95tn asset cap, which has been a curb on its growth and profitability since its imposition in 2018. , an outsider brought in as chief executive in October, and the issue has become acute as the Fed tries to encourage banks to extend credit to customers who have seen their revenues and incomes plummet this month.
Wells Fargo & Company (NYSE: WFC) today announced additional comprehensive steps to help customers, communities and employees grappling with the impact of COVID-19. The company has suspended residential property foreclosure sales, evictions and involuntary auto repossessions. Additionally, the Wells Fargo Foundation will increase its charitable donations to $175 million to help address food, shelter, small business and housing stability, as well as to provide help to public health organizations.
Regulators are encouraging banks to tap into capital and liquidity to lend into an economy affected by the coronavirus but further regulatory easing could be coming.
Wells Fargo & Co on Tuesday became the latest to implement such a stay at home declaration in response to the quickly-spreading coronavirus outbreak, but only for employees who don't interact with customers and can effectively work remotely. Branch, call center, and operations center employees and their managers are among those considered essential and will continue reporting to their offices, according to a Wells Fargo memo seen by Reuters.
We can well imagine that “wow” has been uttered by more than just a few people of late - about the spread of the coronavirus, the impact of the virus on share prices and the global economy, and about the change in lifestyle that has taken place in a mere matter of weeks. But for those of us who follow insider-sentiment data from Vickers Stock Research, recent data has led us to a “double-wow”. Two weeks ago, we pointed out that corporate insiders reacted to stock price declines by increasing their purchases of shares in the companies at which they work.
Wells Fargo Bank, N.A., said today it is decreasing its prime rate to 3.25 percent from 4.25 percent, effective today, March 16, 2020.
Wells Fargo & Company today announced Jack Ginter as the head of Abbot Downing, the boutique business serving ultra-high-net-worth clients. Abbot Downing is part of Wells Fargo Wealth & Investment Management.
Wells Fargo & Company (NYSE: WFC) today announced that Ellen Patterson will join the company as its senior executive vice president and general counsel, effective March 23, 2020. Reporting to CEO Charlie Scharf, Patterson will be responsible for all legal affairs at the company and will serve on the company’s Operating Committee.
The current equity market malaise almost led to a bear market following heavy selling pressure on Monday March 9, with the S&P 500 falling 19% from its recent peak. While volatility is likely to remain high as the range of economic and corporate profit outcomes continues to be considered, and as monetary and fiscal stimulus measures are likely announced, we believe many high-quality stocks have been oversold and represent opportunities for investors on the lookout for bargains. We screened for companies in our coverage universe that have the following criteria: Buy-rated, at least 20% below their 52-week high, a Financial Strength rating of High (indicating a strong balance sheet that can weather a downturn), and where we have at least have a market weight recommendation on the sector. The list of 26 high-quality stocks is below.
Banks heavily exposed to oil and gas saw massive declines on Monday as the coronavirus fears were compounded by tumbling oil prices.
Wells Fargo today announced that it is seeking to invest up to $50 million in African American Minority Depository Institutions (MDIs). These investments are part of Wells Fargo’s commitment to supporting economic growth in African American communities where MDIs, often community based banks, provide mortgage credit, small business lending, and other banking services. Wells Fargo commends Congresswoman Joyce Beatty and Congressman Gregory Meeks for recently sponsoring legislation to enhance MDIs and these investments in African American MDIs will support the spirit of that legislation.
The bank was informed over the weekend by the San Francisco Department of Public Health about the results. After finding out the employee had prolonged contact with a infected individual, the bank told employees who work on the same floor to work from home on Friday and performed an "enhanced" cleaning of the location, the bank said in a statement.