WFC

Wells Fargo Reports Second Quarter 2023 Financial Results

Retrieved on: 
Friday, July 14, 2023
Finance, Banking, Professional Services, Asset Management, Fintech, Wells Fargo, Security (finance), WFC, Multimedia, NYSE, Fargo

Wells Fargo & Company (NYSE: WFC) has released its second quarter 2023 financial results.

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Wells Fargo to Announce Second Quarter 2023 Earnings on July 14, 2023

Retrieved on: 
Wednesday, July 5, 2023
Banking, Professional Services, Finance, Wells Fargo, NYSE, Security (finance), WFC, Multimedia, Fargo

Wells Fargo & Company (NYSE: WFC), as previously announced, will report its second quarter 2023 earnings results on Friday, July 14, 2023, at approximately 7:00 a.m. Eastern time.

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Wells Fargo Issues Statement Regarding the Federal Reserve’s Stress Test Results

Retrieved on: 
Friday, June 30, 2023
Professional Services, White House, Federal Government, Public Policy, Government, Small Business, Finance, Asset Management, Banking, Federal Reserve Board of Governors, Wells Fargo, Comprehensive Capital Analysis and Review, WFC, CCAR, SCB, Multimedia, NYSE, Risk, FRB, Fargo, Cryptocurrency

Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2023 Comprehensive Capital Analysis and Review (CCAR) stress test process.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2023 Comprehensive Capital Analysis and Review (CCAR) stress test process.
  • The Company expects its stress capital buffer (SCB) to decrease to 2.9%, which represents a percentage amount of incremental capital the Company must hold above its minimum regulatory capital requirements.
  • The Federal Reserve Board (FRB) has indicated that it will publish the Company’s final SCB by August 31, 2023.
  • “This year’s CCAR stress test affirmed that Wells Fargo remains in a strong capital position, reflecting the value of our franchise and benefits of our operating model,” said CEO Charlie Scharf.

Wolfspeed Announces $1.25 Billion Funded Secured Notes Led by Apollo Credit Funds

Retrieved on: 
Monday, June 26, 2023
Semiconductor, Government Technology, 5G, Aerospace, Manufacturing, Defense, Nanotechnology, Other Technology, Other Defense, Telecommunications, Networks, Hardware, Consumer Electronics, Technology, Mobile, Wireless, Other Energy, Alternative Energy, Energy, Other Manufacturing, APO, Wells Fargo, Smith, Morgan Stanley, Latham & Watkins, WFC, Growth, Silicon, Mitchell, Credit, NYSE, Renewable energy, Wolfspeed

The 9.875% notes will mature in 2030 and are optionally prepayable by the company based on the terms of the indenture governing the notes.

Key Points: 
  • The 9.875% notes will mature in 2030 and are optionally prepayable by the company based on the terms of the indenture governing the notes.
  • The investment was led by funds managed by Apollo’s ~$450 billion Credit business.
  • “The group’s commitment to Wolfspeed further validates the importance of silicon carbide to the global energy transition,” said Gregg Lowe, president and chief executive officer of Wolfspeed.
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo funds and the noteholder group.

Wells Fargo Launches Sports & Entertainment Program to meet unique wealth management needs

Retrieved on: 
Wednesday, June 7, 2023
Professional Services, Business, Finance, Asset Management, Banking, Personal Finance, Private banking, Sport, Investment banking, Wells Fargo, Housing, College, Wells Fargo Advisors, FDIC, Commercial bank, Financial plan, WFC, Trust, SIPC, WIM, Investment management, Corporation, Bank, NYSE, Intuition, Financial adviser, Financial services, Wealth

Wells Fargo announced today a new Sports & Entertainment Program focused on recognizing and supporting financial advisors who serve clients within the sports and entertainment industries.

Key Points: 
  • Wells Fargo announced today a new Sports & Entertainment Program focused on recognizing and supporting financial advisors who serve clients within the sports and entertainment industries.
  • Wells Fargo has a long history of serving the complex needs of clients with significant wealth.
  • “The Sports & Entertainment Program shows our commitment to both our financial advisors, and the affluent and high-net-worth clients that they serve,” said Clarence Nunn, Executive Vice President of Wealth & Investment Management.
  • Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.

Wells Fargo to Present at the Morgan Stanley US Financials, Payments & CRE Conference

Retrieved on: 
Tuesday, June 6, 2023
Banking, Professional Services, Finance, Morgan Stanley, Wells Fargo, Webcast, WFC, Multimedia, NYSE, Conference, Fargo, Payment

Wells Fargo & Company (NYSE: WFC) said today that Chief Financial Officer Mike Santomassimo will present at the Morgan Stanley US Financials, Payments & CRE Conference on Tuesday, June 13, 2023 at 8:00 a.m.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) said today that Chief Financial Officer Mike Santomassimo will present at the Morgan Stanley US Financials, Payments & CRE Conference on Tuesday, June 13, 2023 at 8:00 a.m.
  • ET.
  • This press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20230606005142/en/
    A replay of the webcast will be available for three months following the presentation.

Wells Fargo to Present at the 39th Annual Bernstein Strategic Decisions Conference

Retrieved on: 
Wednesday, May 24, 2023
Personal Finance, Finance, Banking, Professional Services, Asset Management, Investment banking, Wells Fargo, Housing, Fargo, Multimedia, Commercial bank, WFC, Corporation, Investment management, Webcast, Wealth, Conference, NYSE, News

Wells Fargo & Company (NYSE: WFC) said today that Chief Executive Officer Charlie Scharf will present at the 39th Annual Bernstein Strategic Decisions Conference on Wednesday, May 31, 2023 at 8:00 a.m.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) said today that Chief Executive Officer Charlie Scharf will present at the 39th Annual Bernstein Strategic Decisions Conference on Wednesday, May 31, 2023 at 8:00 a.m.
  • View the full release here: https://www.businesswire.com/news/home/20230524005044/en/
    A replay of the webcast will be available for three months following the presentation.
  • Wells Fargo ranked No.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Retrieved on: 
Friday, May 19, 2023
Finance, Business, Professional Services, Small Business, Asset Management, Investment banking, Wells Fargo, Housing, Fargo, Multimedia, Commercial bank, WFC, Corporation, Investment management, Wealth, NYSE, Security (finance), Series

Wells Fargo & Company (NYSE: WFC) today announced dividends on eight series of preferred stock.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced dividends on eight series of preferred stock.
  • A quarterly cash dividend of $365.63 per share was declared on its 5.85% fixed-to-floating noncumulative perpetual class A preferred stock, Series Q, liquidation preference $25,000 per share.
  • A quarterly cash dividend of $414.06 per share was declared on its 6.625% fixed-to-floating noncumulative perpetual class A preferred stock, Series R, liquidation preference $25,000 per share.
  • A quarterly cash dividend of $351.56 per share was declared on its 5.625% noncumulative perpetual class A preferred stock, Series Y, liquidation preference $25,000 per share.

Bernstein Litowitz Berger & Grossmann Secures a Historic $1 Billion Settlement for Shareholders in Wells Fargo Securities Class Action

Retrieved on: 
Tuesday, May 16, 2023
Class Action Lawsuit, Professional Services, Legal, General Treasurer of Rhode Island, Wells Fargo, Public, Risk management, BLB, Bernstein Litowitz Berger & Grossmann, WFC, District court, GHW, Douglas v. U.S. District Court ex rel Talk America, NYSE, Security (finance), Private investigator

In one of the largest securities class action settlements in recent years, Bernstein Litowitz Berger & Grossmann (BLB&G) announced today that it has reached a settlement agreement on behalf of its clients and a class of investors with Wells Fargo & Co (NYSE: WFC), which has agreed to pay $1 billion in cash to resolve a federal securities class action lawsuit in the United States.

Key Points: 
  • In one of the largest securities class action settlements in recent years, Bernstein Litowitz Berger & Grossmann (BLB&G) announced today that it has reached a settlement agreement on behalf of its clients and a class of investors with Wells Fargo & Co (NYSE: WFC), which has agreed to pay $1 billion in cash to resolve a federal securities class action lawsuit in the United States.
  • The action, In re Wells Fargo & Company Securities Litigation, No.
  • 20-CV-04494 (GHW), is pending in the U.S. District Court for the Southern District of New York before Judge Gregory Woods.
  • Wells Fargo’s investors were harmed after a series of disclosures revealed that Wells Fargo had misrepresented its compliance with those orders, causing a decline in Wells Fargo’s stock price.

Wells Fargo Announces Transition Information for Outstanding U.S. Dollar LIBOR-Linked Instruments

Retrieved on: 
Friday, May 12, 2023
Banking, Asset Management, Professional Services, Finance, Benchmark, CME, Certificate, Adjustable-rate mortgage, Federal, Fargo, LIBOR, Wells Fargo, SOFR, Multimedia, USD, Sedimentation, WFC, Federal Reserve, London Interbank Bid Rate, Interest rate, NYSE, Security (finance)

Wells Fargo & Company (NYSE: WFC) (“Wells Fargo”) and certain of its consolidated subsidiaries have issued debt securities, certificates of deposit, trust preferred securities and preferred stock and related depositary shares that reference the London Interbank Offered Rate (LIBOR) for deposits in U.S. dollars for a three-month tenor.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) (“Wells Fargo”) and certain of its consolidated subsidiaries have issued debt securities, certificates of deposit, trust preferred securities and preferred stock and related depositary shares that reference the London Interbank Offered Rate (LIBOR) for deposits in U.S. dollars for a three-month tenor.
  • The instruments addressed in this press release are governed by U.S. law or the laws of a U.S. State.
  • The replacement of Three-month USD LIBOR with Three-month CME Term SOFR plus the spread adjustment will be effective for determinations made under the terms of the Specified Instruments after June 30, 2023.
  • Additional information regarding the Specified Instruments will be made available through the LIBOR Benchmark Replacement Index solution through DTCC’s Legal Notice System.