WFC Stock Recent News

Wells Fargo Securities Head of U.S. Large-Cap Bank Research Mike Mayo spoke with Yahoo Finance anchors Seana Smith and Brad Smith about questions surrounding David Solomon as CEO of Goldman Sachs.

Wells Fargo's non-callable preferred shares offer a 6.5% yield, making them attractive in the current high-interest rate environment. The bank's H1 results show strong dividend coverage and asset coverage ratios, indicating resilience in volatile times. The Series L preferred shares have an issue price of $1,000, pay a 7.5% dividend, and cannot be called by the bank.

Former Wells Fargo & Co. executive Carrie L. Tolstedt faces up to 16 months in prison in a sentencing hearing scheduled in federal court on Friday for her part in the bank's fake-account scandal, which resulted in billions of dollars in fines and thousands of layoffs.

Wells Fargo (WFC) seeks to cut down on expenses by reducing its real estate footprint and headcount.

Wells Fargo's stock (NYSE: WFC) has made negligible gains YTD as compared to the 17% rise in the S&P500 index over the same period.

Wells Fargo Chief Financial Officer Mike Santomassimo reportedly said that the bank could make further layoffs as it seeks to improve efficiency. Since the third quarter of 2020, Wells Fargo has been trimming its workforce, already reducing its employee base by nearly 40,000, Reuters reported Tuesday (Sept.

Wells Fargo (WFC) has agreed to pay $1 billion to settle claims of the class action suit in May 2023. The deal has now been approved by the U.S. District Judge.

Wells Fargo could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said on Tuesday.

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