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WELLS FARGO & COMPANY

(WFC)
  Report
Real-time Estimate Cboe BZX  -  01:36 2022-12-05 pm EST
44.24 USD   -3.71%
11:27aU.S. services industry regains steam; factory orders accelerate
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10:40aGrowth in U.S. Services Activity Accelerated in November, Beating Expectations -- ISM
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Wells Fargo to commission third-party racial equity audit in diversity push

09/13/2022 | 02:15pm EST
Wells Fargo Bank branch is seen in New York

(Reuters) - Wells Fargo & Co said on Tuesday it would commission a third-party racial equity audit that will include inputs from both internal and external stakeholders, as the bank pushes to boost its diversity credentials.

The assessment will be conducted by law firm Covington & Burling LLP, with the results expected to be published by the end of 2023.

The move comes after Wells in June froze its hiring policy that requires recruiters to interview a diverse pool of candidates, after the New York Times reported that such interviews were often fake and conducted even though the job had already been promised to someone else.

At the time, Chief Executive Officer Charles Scharf told staff in a memo that the lender also plans to conduct a review of its diverse slate guidelines.

In August, Wells reinstated the policy, saying it had completed a review of diverse candidate hiring approaches and interviewed recruiters and managers to improve implementation of guidelines.

(Reporting by Manya Saini in Bengaluru; Editing by Maju Samuel)


ę Reuters 2022
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Analyst Recommendations on WELLS FARGO & COMPANY
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Financials (USD)
Sales 2022 74 319 M - -
Net income 2022 14 393 M - -
Net Debt 2022 - - -
P/E ratio 2022 12,3x
Yield 2022 2,39%
Capitalization 175 B 175 B -
Capi. / Sales 2022 2,36x
Capi. / Sales 2023 2,14x
Nbr of Employees 239 209
Free-Float 69,2%
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Mean consensus BUY
Number of Analysts 26
Last Close Price 45,94 $
Average target price 53,90 $
Spread / Average Target 17,3%
EPS Revisions
Managers and Directors
Charles William Scharf President, Chief Executive Officer & Director
Michael P. Santomassimo Chief Financial Officer & Senior Executive VP
Steven D. Black Chairman
Saul van Beurden Senior Executive VP & Head-Technology
Scott E. Powell Chief Operating Officer & Senior Executive VP
Sector and Competitors