Wells Fargo Co Stock Price, News & Analysis

Wells Fargo & Company (NYSE: WFC) announced that CEO Charlie Scharf will speak at the Goldman Sachs US Financial Services Conference on December 8, 2020, at 8 a.m. ET. A live webcast of the presentation will be available online, with a replay accessible for three months afterward. As a diversified financial services company with $1.92 trillion in assets, Wells Fargo serves one in three U.S. households and operates in 31 countries. For more information, visit wellsfargo.com.

Wells Fargo has introduced a new digital payment solution called the WellsOne Virtual Card Payments service aimed at business customers. This service allows clients to replace paper checks with one-time virtual card numbers for secure invoice payments. It is designed for WellsOne Commercial Card users and facilitates faster payments to suppliers while enhancing control and reducing fraud risks. The system supports automated processing and offers comprehensive tracking features, allowing businesses to optimize working capital and streamline payment operations.

Wells Fargo has announced the renewal of open-market share repurchase programs for four closed-end funds, allowing up to 10% of each fund's outstanding shares to be repurchased between January 1, 2021, and December 31, 2021. The funds include the Global Dividend Opportunity Fund, Income Opportunities Fund, Multi-Sector Income Fund, and Utilities and High Income Fund. Previously, these funds repurchased shares significantly in 2020, with the Multi-Sector Income Fund repurchasing 2.2 million shares. This initiative aims to enhance shareholder value.

Wells Fargo & Company is hosting a virtual panel titled "Navigating Uncertainty: Caregiving in a Time of Change" on November 18, 2020. This event, in collaboration with The Longevity Project and Stanford Center on Longevity, aims to address the growing challenges faced by the 53 million American caregivers, a 20% rise over five years. The panel will provide insights into Alzheimer’s care trends and business adaptations amidst increasing caregiving demands due to longevity and the pandemic.

Wells Fargo Corporate & Investment Banking (NYSE: WFC) has partnered with HPR to enhance its Quantitative Prime Services division. The collaboration aims to launch a next-generation trading platform that provides custom trading solutions engineered on HPR products. Clients will gain access to HPR’s technology, including low-latency trading and advanced risk management systems. This partnership is expected to bolster Wells Fargo's service offerings and position in the electronic trading market.

Wells Fargo (NYSE: WFC) has declared dividends on 13 series of preferred stock, with notable payouts including $18.75 per share for Series L and $365.63 for Series Q, both payable on Dec. 15, 2020. Shareholders of record as of Nov. 30, 2020, will qualify for these dividends. The bank continues to support its investors through consistent dividend distributions, demonstrating its financial strength amidst market fluctuations.

Wells Fargo & Company is hosting a virtual panel discussion titled "Navigating Uncertainty: Caregiving in a Time of Change" on November 18, 2020. The event, organized in collaboration with The Longevity Project and the Stanford Center on Longevity, aims to address the challenges faced by the 53 million American caregivers, a figure that has risen over 20% in the past five years. Experts will provide practical guidance on caregiving trends and the evolving needs due to increased longevity and pandemic-related issues.

Wells Fargo & Company (NYSE: WFC) will redeem 5,280 shares of its Non-Cumulative Perpetual Class A Preferred Stock, Series T, on December 15, 2020. This redemption also applies to 5,280,000 related depositary shares. The redemption price is set at $25,000 per preferred share and $25 per depositary share, excluding declared and unpaid dividends, which will be paid separately on the same date. All regulatory requirements have been met, and payments will be processed by Equiniti Trust Company.

Wells Fargo (NYSE: WFC) will redeem all 40,000 shares of its Non-Cumulative Perpetual Class A Preferred Stock, Series V, on December 15, 2020. The redemption price is set at $25,000 per share and $25 per depositary share, totaling 40 million shares. The redemption coincides with a dividend payment date, but the redemption price excludes declared and unpaid dividends. All regulatory conditions for the redemption have been fulfilled, and payments will be processed by Equiniti Trust Company on the redemption date.