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 & Company (NYSE: WFC) is a financial services company that reports having approximately $2.1 trillion in assets and operating through four reportable segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The Wells Fargo news flow reflects these diverse activities, ranging from quarterly earnings announcements to capital markets transactions and research publications.
Investors following WFC news will see quarterly financial results released via Business Wire and detailed in Form 8-K filings. These updates typically include a news release on results of operations and financial condition, a quarterly supplement with additional data, and information about conference calls and webcasts where management discusses performance and other matters relating to the company.
Wells Fargo news also covers capital and funding actions, such as the redemption of floating rate junior subordinated debentures and the establishment or issuance of medium-term notes under Series W and Series Y programs. Press releases and corresponding SEC filings describe the terms of these instruments, redemption dates, and related covenants.
Beyond earnings and funding, Wells Fargo regularly issues research and survey-based releases. Examples include surveys on financial goal setting and holiday gifting behaviors, as well as investment outlooks from Wells Fargo Investment Institute that discuss economic forecasts, favored sectors, and portfolio ideas, accompanied by extensive risk disclosures. Corporate governance and leadership developments, such as executive appointments and changes in responsibilities, also appear in the company’s news.
This WFC news page aggregates these types of announcements so readers can review earnings releases, capital markets updates, survey findings, and strategic communications in one place.
Wells Fargo has entered a definitive agreement to sell Wells Fargo Asset Management (WFAM) to GTCR LLC and Reverence Capital Partners for $2.1 billion. The transaction, expected to close in the second half of 2021, includes WFAM’s collective investment trusts and all related entities. Wells Fargo will retain a 9.9% equity interest and remain a client and distribution partner. WFAM manages $603 billion in assets and will operate independently post-sale, benefiting from the experience of the private equity firms involved.
Wells Fargo (NYSE: WFC) announced that Chief Financial Officer Mike Santomassimo will present at the Credit Suisse Financial Services Forum on February 24, 2021, at 8:50 a.m. ET. A live webcast of the presentation will be hosted online, with a replay available for three months afterwards. Wells Fargo is a major financial services provider, managing approximately $1.9 trillion in assets and serving substantial parts of the U.S. population and middle-market companies. The company is committed to social impact initiatives focused on sustainability and community development.
Wells Fargo (NYSE: WFC) announced its cash tender offers to purchase up to $6.4 billion in various securities. The Offers cover 11 series of securities, including Fixed Spread Securities and Fixed Price Securities, as per the Offer to Purchase dated January 29, 2021. The early tender deadline is set for February 11, 2021, with a planned settlement date of March 2, 2021. Securities tendered may not be withdrawn post-deadline. Additionally, no minimum principal amount is required for the Offers, and Wells Fargo expects to accept 100% of valid tenders at certain priority levels.
Wells Fargo & Company (NYSE: WFC) has increased its maximum tender amount for cash tender offers from $4.5 billion to $6.4 billion. This adjustment allows Wells Fargo Securities to purchase up to this new limit across 11 series of securities. As of the early tender deadline, $8.35 billion in securities had been validly tendered. The Offers remain unchanged for the securities listed, with the expectation to accept 100% of tendered securities at priority levels 1-4, while level 5 will be accepted on a pro rata basis. The final results will be announced post-offer expiration on Feb. 26, 2021.
Wells Fargo (NYSE: WFC) announced the redemption of 2.5 million of its 5.80% Fixed-to-Floating Rate Normal Wachovia Income Trust Securities on March 15, 2021. This action follows the redemption of its Class A Preferred Stock, Series I. Each Normal WITS will be redeemed at $1,000, with distribution payments occurring separately for record holders as of February 28, 2021. All regulatory requirements for this redemption have been met, and payments will be processed by U.S. Bank National Association on the redemption date.
Wells Fargo (NYSE: WFC) announced the redemption of 25,000 shares of its Series P Preferred Stock and 40,000 shares of its Series W Preferred Stock, effective March 15, 2021. The redemption price is set at $25,000 per Series P Preferred Share and $25.00 per Series W Preferred Share. This action follows regular quarterly dividend payments on the same date, which will be made to the holders of record as of February 26, 2021. All regulatory requirements for these redemptions have been satisfied, with Equiniti Trust Company acting as the redemption agent.
Wells Fargo announced a redemption of 16,000 shares of its Non-Cumulative Perpetual Class A Preferred Stock, Series N, effective March 15, 2021. This action will also redeem 16,000,000 related depositary shares. The redemption price is set at $25,000.00 per Preferred Share and $25.00 per Depositary Share. After this transaction, 14,000 Preferred Shares and 14,000,000 Depositary Shares will remain outstanding. The redemption coincides with a scheduled dividend payment. Equiniti Trust Company will act as the redemption agent.
Wells Fargo (NYSE: WFC) has declared dividends on 12 series of preferred stock, effective March 15, 2021. Key dividends include $18.75 per share for Series L, $325.00 for Series N, and $320.31 for Series O. The dividends are payable to holders of record as of February 26, 2021. Wells Fargo continues to manage approximately $1.9 trillion in assets and provides a broad range of financial services to U.S. households and businesses.
Wells Fargo has announced investments totaling up to $50 million in six African American Minority Depository Institutions (MDIs). This initiative is part of a broader pledge made on March 10, 2020, to enhance financial access and support economic recovery in communities of color affected by the pandemic. The selected banks will receive financial and technological support from Wells Fargo, aimed at strengthening their lending capacity and community impact. This investment emphasizes Wells Fargo's commitment to fostering economic revitalization and job opportunities in minority communities.
Ameresco (NYSE: AMRC) and Wells Fargo (NYSE: WFC) have announced a collaboration to develop approximately 30 megawatts (MW) of onsite solar generation assets across seven states. This project includes nearly 100 solar photovoltaic arrays at various locations, with construction starting in April and continuing into 2022. As part of its sustainability efforts, Wells Fargo has been using renewable energy for all its global electricity needs since 2017. The initiative is expected to bolster local job creation and tax revenue, while Ameresco's expertise made it the preferred partner for this extensive project.