Wells Fargo ( (WFC) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Wells Fargo shares came under pressure after reports that the bank had exposure as a lender to the recently collapsed MFS, raising fresh worries about its risk profile. Investors reacted cautiously, even as the bank moved ahead with capital actions.
The company said it will fully redeem its Series BB preferred stock and related depositary shares on March 15, with settlement on March 16. It also confirmed the associated dividend will be paid on March 16 to shareholders of record as of February 27.
More about Wells Fargo
YTD Price Performance: -6.45%
Average Trading Volume: 14,933,232
Technical Sentiment Signal: Buy
Current Market Cap: $261.5B
For further insights into WFC stock on TipRanks’ Stock Analysis page.
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