Wells Fargo & Company
- Wells Fargo & Co. dropped 5.5% to $78.86 after the California-based bank reported fiscal second quarter results ending in June.
Consolidated revenue in the quarter edged up to $20.8 billion from $20.7 billion, net income advanced to $5.5 billion from $4.9 billion, and diluted earnings per share rose to $1.60 from $1.30 a year ago.
Chief Executive Officer Charlie Scharf commented, “As we have been investing to drive organic growth and improve the earnings capacity in each of our businesses, we have also been returning excess capital to shareholders."
During the first half of this year, the company repurchased over $6 billion of common stock, and the company plans to increase third-quarter common stock dividend by 12.5% to 45 cents from 40 cents per share.
Jul 15, 2025
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