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WELLS FARGO (WFC)
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Wells Fargo : Donates $250,000 to Earthquake Relief Efforts in Alaska

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12/08/2018 | 12:26am CET

Eagle River branch remains closed for repairs

Reflecting its 102-year commitment to Alaska communities and residents, Wells Fargo & Company (NYSE: WFC) today announced a donation of $250,000 to aid in the recovery and relief efforts resulting from the devastating earthquake and the more than 2,000 aftershocks that have impacted the state.

“All of us at Wells Fargo are incredibly thankful for the first responders, government agencies, and nonprofit organizations like the Red Cross and Salvation Army that are working hard to help Alaskans recover and rebuild following the earthquake. We are also very grateful that no Alaskans perished during the earthquake,” said Greg Deal, Wells Fargo Alaska region bank president. “It is amazing to witness the resolve and compassion of Alaskans to help our neighbors in need. As a bank committed to the long-term well-being of Alaskans, Wells Fargo is honored to support the relief and recovery efforts in the days, weeks and months to come.”

The donation will be distributed to multiple organizations in Alaska that are positioned to help with recovery:

  • Alaska Community Foundation (community disaster fund) - $185,000 to address long-term recovery
  • American Red Cross of Alaska* - $30,000 for immediate needs
  • The Salvation Army Alaska Division - $30,000 for immediate needs
  • Foraker Group - $5,000 to create needs portal for Alaska Community Foundation

“We are thrilled Wells Fargo has stepped up to help seed this important fund,” said Nina Kemppel, Alaska Community Foundation president and CEO. “The Alaska Disaster Recovery Fund is supported by a coalition of funders, and nonprofit service providers. This generous donation allows the coalition to provide immediate emergency response and maintain long-term assistance to communities and nonprofits damaged by the earthquake.”

Alaskans can visit Alaskacf.org to donate or learn more about the Alaska Disaster Recovery Fund.

Customers who are experiencing hardship due to the earthquake can contact Wells Fargo Customer Support at the number on their credit card, debit card or statement to discuss their options. Affected customers can also contact their banker by visiting their nearest Wells Fargo branch.

All Wells Fargo branches in Alaska have reopened with the exception of the Eagle River branch, which sustained significant structural damage. Customers in Eagle River will be notified when the branch is expected to reopen. The nearest Wells Fargo branches are in East Anchorage, approximately 12 miles away. The Frontier branch is located at 7731 East Northern Lights Blvd., and the full-service Russian Jack branch is located at 5740 DeBarr Road.

Wells Fargo and its 700 Alaska team members serve customers from 44 branches and operate 117 ATMs across the state. In 2017, Wells Fargo invested $1.3 million in hundreds of Alaska nonprofits and schools and its Alaska team members logged 13,000 volunteer hours.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,950 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About the Alaska Community Foundation

Established in 1995, The Alaska Community Foundation (ACF) inspires the spirit of giving and connects people, organizations, and causes to strengthen Alaska’s communities now and forever. Managing more than $90 million in assets and over 490 funds for the benefit of Alaskans, ACF and its Affiliates grant $4 million to $6 million each year to charitable projects and organizations across Alaska. In the past 23 years, ACF and its Affiliates have awarded more than 65 million in grants. ACF also manages the Pick.Click.Give. program. For more information, visit www.alaskacf.org or call 907-334-6700.

* The American Red Cross name, emblem and copyrighted materials are being used with its permission, which in no way constitutes an endorsement, express or implied, of any product, service, company, opinion or political position. The American Red Cross logo is a registered trademark owned by The American National Red Cross. For more information about the American Red Cross, please visit redcross.org.


© Business Wire 2018
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Financials ($)
Sales 2018 86 583 M
EBIT 2018 30 806 M
Net income 2018 20 796 M
Debt 2018 -
Yield 2018 3,27%
P/E ratio 2018 11,69
P/E ratio 2019 9,84
Capi. / Sales 2018 2,73x
Capi. / Sales 2019 2,72x
Capitalization 237 B
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 61,2 $
Spread / Average Target 22%
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Timothy J. Sloan President, Chief Executive Officer & Director
Elizabeth A. Duke Independent Chairman
John R. Shrewsberry Chief Financial Officer & Senior Executive VP
Scott Dillon Chief Technology Officer
John Daniel Baker Independent Director
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