Wells Fargo Co Stock Price, News & Analysis

Wells Fargo and Miami-Dade County have launched the Strive305 HUB, a comprehensive resource platform for small businesses. The initiative, funded and sponsored by Wells Fargo, provides tools including resource mapping, training modules, event promotion, and community engagement features.

The program builds on Wells Fargo's previous $20 million Miami Open for Business grant and aims to support entrepreneurs through various stages of business development. The platform offers resources for business registration, emergency preparedness, planning, networking, mentoring, and legal services. The hub is supported by partners including the Small Business Administration, Florida International University's SBDC, and the Department of Commerce MBDA.

TBL Fund has received a $100,000 grant from the Wells Fargo Foundation to enhance decarbonization and energy efficiency initiatives in Tribal Communities. The funding will support collaboration with the New Mexico Department of Indian Affairs to develop a sustainable energy program, providing clean energy access, energy efficiency, and resiliency technologies to Tribal Nations in New Mexico.

The program aims to reduce carbon footprints and promote energy sovereignty in Tribal communities, with plans to expand to surrounding states. TBL Fund's goals include expanding services to all U.S. states and territories, targeting to serve over 100,000 low-income households annually.

Wells Fargo (NYSE: WFC) has announced that CEO Charlie Scharf will deliver a presentation at the Goldman Sachs Financial Services Conference on Wednesday, December 11, 2024, at 8:40 a.m. ET.

The presentation will be accessible through a live webcast on Wells Fargo's investor relations website. Interested parties can access the webcast recording for up to three months after the presentation date.

Paul Quinn College has received a $1.5 million grant from T.D. Jakes Foundation and Wells Fargo (NYSE:WFC) to support an innovative campus housing initiative. The project will expand student housing capacity by 300% and include a mixed-use development featuring student and family housing, retail spaces, parks, and classroom facilities. The development will serve Paul Quinn College community, KIPP Oak Cliff Academy, and Dallas Independent School District's Dr. Frederick D. Haynes III Global Preparatory Academy students. Wells Fargo has previously supported Paul Quinn with additional funding, including $100,000 for Corporate Work Program scholarships and $236,000 in 2024 for housing security funds.

Wells Fargo Innovation Incubator (IN²) has selected three startups for its 14th cohort, focusing on decarbonization solutions for buildings. Blip Energy, Evercloak, and Transaera will each receive $250,000 in non-dilutive funding to develop energy-efficient building technologies. The companies will collaborate with NREL scientists to validate their solutions, which include smart battery platforms, refrigerant-free dehumidification systems, and advanced air conditioning technology. These innovations aim to reduce energy consumption and emissions in commercial and residential buildings. The IN² portfolio now includes 75 companies that have secured over $2.6 billion in follow-on funding.

Wells Fargo Foundation has announced a $2 million grant to Team Rubicon, extending over two years to support disaster relief efforts, particularly in the Southeastern United States. Team Rubicon, a veteran-led humanitarian organization, will use the funding through its Ready Reserve Fund to deploy volunteers, including military veterans, first responders, and civilians, for disaster response and recovery operations. In 2024, the organization has already served over 2.9 million individuals. Currently, Team Rubicon volunteers are working in Western North Carolina, cleaning over 150 rooms at a veterans' housing facility. This follows a previous $1.7 million support announced by Wells Fargo in 2023.

Wells Fargo (NYSE: WFC) has announced dividend payments for six series of preferred stock. The dividends will be paid on December 16, 2024, to holders of record as of November 29, 2024. The dividends include: Series L at $18.75 per share (7.50%), Series Y at $351.56 per share (5.625%), Series Z at $296.88 per share (4.75%), Series AA at $293.75 per share (4.70%), Series CC at $273.44 per share (4.375%), and Series DD at $265.63 per share (4.25%). Wells Fargo currently manages approximately $1.9 trillion in assets across its banking, investment, and mortgage services divisions.

My Home Pathway has launched the Home Buyer Nurture Program, a pilot initiative supported by Wells Fargo Foundation, TransUnion, LISC NYC, Bilt Rewards, and Morgan Stanley. The program aims to increase homeownership accessibility in Illinois, Michigan, New Jersey, New York, and Pennsylvania, focusing on marginalized and underserved communities. The initiative provides financial education, credit improvement assistance, down payment support, and tech-enabled homebuyer guidance. Phase one will target cities including Philadelphia, Camden, Queens, Chicago, Newark, and Detroit, with phase two locations to be determined.

Wells Fargo's recent study reveals that while 78% of Americans consider generosity a core value, economic uncertainty is affecting charitable giving. 29% of Americans have reduced their charitable contributions compared to last year, and 51% feel they lack sufficient funds to donate. Despite economic challenges, 67% of Americans still made charitable donations last year, averaging $1,632. The study shows that 46% give because it makes them happy, while only 10% donate for tax benefits. Notably, 57% of Americans want to be more strategic in their giving, though 64% are unaware of Giving Tuesday, a post-Thanksgiving charitable initiative.