Wells Fargo Co Stock Price, News & Analysis

Wells Fargo (NYSE: WFC) has declared dividends on eight series of preferred stock, showcasing continued confidence in shareholder returns. Notably, a cash dividend of $18.75 per share on the Series L, payable on Sept. 15, 2022, stands out. Other dividends include $365.63 for Series Q, $414.06 for Series R, $351.56 for Series Y, $296.88 for Series Z, $293.75 for Series AA, $273.44 for Series CC, and $265.63 for Series DD, all payable on the same date. Holders must be recorded by Aug. 31, 2022.

Wells Fargo (NYSE: WFC) issued its second Inclusive Communities and Climate Bond, totaling $2 billion, aimed at financing initiatives in housing affordability, renewable energy, and clean transportation. The bond, priced on Aug. 8, 2022, offers fixed interest payments of 4.54% until Aug. 15, 2025, followed by interest based on SOFR + 1.56% until Aug. 15, 2026. Significant support from diverse broker-dealers is highlighted, with 75% of underwriting fees allocated to underrepresented firms, demonstrating Wells Fargo's commitment to inclusivity in finance.

Wells Fargo and the Thurgood Marshall College Fund (TMCF) announced the winners of the College Completion Scholarship Program, awarding up to $5,000 to over 200 senior scholars from TMCF-member schools for the 2021-22 academic year. Each recipient will also receive career mentorship from Mentor Collective. This initiative emphasizes the importance of social and financial support for students, as research indicates mentorship significantly boosts retention and sense of belonging among college students.

A recent Wells Fargo study highlights that 92% of Americans are concerned about rising inflation, with nearly half of credit card rewards users (49%) relying on rewards to offset everyday costs. The survey indicates that 71% of Americans possess rewards cards, and 65% are increasingly focused on these benefits. Many respondents reported using rewards primarily for groceries (62%), gas (51%), and dining (43%). Despite this, 38% of rewards cardholders have not utilized their rewards this year, suggesting a gap in understanding their card benefits.

Wells Fargo (NYSE: WFC) announces the retirement of Bill Mayer after 34 years in the financial industry, having led Wells Fargo Equipment Finance (WFEF) since 2015. Amrita Patel will take over as head of WFEF, bringing extensive experience from her previous leadership roles including head of Process Transformation. Patel's focus will be on innovative financial solutions in a changing economy. Wells Fargo continues to be a significant player in the financial services sector with approximately $1.9 trillion in assets, serving U.S. households and small businesses.

Wells Fargo (NYSE: WFC) is reinstating its diverse candidate slate guidelines after a review period, effective August 19. The changes aim to simplify the hiring process and improve candidate experience. Key highlights include maintaining a 50% diverse candidate slate, redefining job roles based on levels, and enhancing training for recruiters. The company reports significant increases in diverse hiring, with 2021 U.S. external hiring up 17% and diverse hires rising by 27% compared to 2020. These guidelines are expected to further bolster Wells Fargo's commitment to diversity.

Wells Fargo (NYSE: WFC) has announced a quarterly common stock dividend of $0.30 per share, reflecting an increase of $0.05 from the previous quarter. The dividend is payable on September 1, 2022, to stockholders of record as of August 5, 2022. This announcement highlights the company’s commitment to returning value to shareholders amidst its operations as a leading financial services provider with approximately $1.9 trillion in assets.