Latest news for Wells Fargo (NYSE:WFC) Stock

Wells Fargo

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

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Ryan Cohen, GameStop CEO and founder of Chewy, has agreed to pay a $985,320 fine for violating the Hart-Scott-Rodino Act during his acquisition of Wells Fargo shares, according to the FTC.

GameStop CEO Ryan Cohen Penalized Nearly $1M Over Wells Fargo Share Acquisition

Wells Fargo ATM

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Wells Fargo is going to go higher, according to Jim Cramer. It&#39;s a &#34;winner,&#34; the &#34;Mad Money Lightning Round&#34; host said.

Jim Cramer: This Utilities Stock Is A Buy, Calls Wells Fargo A &#39;Winner&#39;

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Wells Fargo launch specialized APIs for Commercial Banking clients, aiming to boost sales, cut costs and improve liquidity.

Wells Fargo Launches New APIs To Boost Efficiency And Productivity: Details

Wells Fargo & Co

Where Food Comes From, Inc. - Common Stock

Where Food Comes From Inc

1867 WESTN FINL CORP by 1867 Western Financial Corp

1867 Western Financial Corp

WELLS FARGO & CO D/E PFD by Wells Fargo & Co.

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD

Wells Fargo & Company 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z

-Wells Fargo Consumer Conference&nbsp;&nbsp;&nbsp;&nbsp;

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Skechers CFO Expects Greater-Than-Anticipated Headwinds In China For Second Half Of 2024 Due To Slower Post-COVID Recovery, Despite Long-Term Growth Opportunities; Says "Not Really Going To Give Very Specific Guidance"

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Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

On Wednesday, the Federal Trade Commission said Ryan Cohen, managing partner of RC Ventures and Chairman and CEO of GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), will pay a $985,320 civil penalty.
This <a href="https://www.ftc.gov/news-events/news/press-releases/2024/09/gamestop-ceo-ryan-cohen-pay-nearly-1-million-penalty-settle-antitrust-law-violation" target="_blank" rel="noreferrer noopener">fine</a> stems from charges that Cohen violated the Hart-Scott-Rodino Act by failing to file the necessary paperwork during his acquisition of shares in Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
Cohen&#8217;s actions resulted in an acquisition that exceeded HSR filing thresholds, triggering the need for federal antitrust agencies to review the deal.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los" rel="noreferrer noopener">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a>.
According to the FTC&#8217;s complaint, Cohen&#8217;s purchase of more than 562,000 Wells Fargo voting securities required him to file an HSR form and wait for regulatory clearance before completing the transaction.
The HSR Act mandates that companies and individuals report large transactions to the FTC and the Department of Justice to allow for federal review.
As per the complaint, Cohen <a target="_blank" href="https://www.ftc.gov/system/files/ftc_gov/pdf/Cohen-Complaint-filed.pdf" rel="noreferrer noopener">acquired</a> 562,077 voting securities in Wells Fargo in March 2018, which resulted in his aggregated holdings of Wells Fargo securities exceeding the $100 million threshold, which in March 2018 was $168.8 million.
Cohen&#8217;s acquisition was not exempt under the Investment-Only Exemption of the HSR Act.
His emails and interactions with Wells Fargo&#8217;s leadership, where he advocated for a board seat and suggested business improvements, indicated an intent to influence the company&#8217;s operations. This intent disqualified his holdings from being considered passive investments.
In January 2021, Cohen made a corrective filing under the HSR Act for the March 2018 voting securities acquisition.
Under the law, finalizing a deal during the 30-day investigation period without approval is prohibited. At the time of Cohen&#8217;s violation, the maximum civil penalty for such infractions was $43,792 per day.
The FTC&#8217;s decision to settle the case and forward it to the DOJ for filing was unanimous, with a 5-0 vote.
Last week, GameStop reported second-quarter net sales of $798.0 million, down from $1.16 billion a year ago and missing the consensus of $895.7 million.
The video game retailer reported a profit of 1 cent per share, beating a Street consensus estimate of a loss <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40803991/gamestop-q2-earnings-highlights-revenue-miss-eps-beat-cash-update-and-more" rel="noreferrer noopener">of 9 cents per share</a>.
Price Action: GME stock is up 1.50% at $19.94 during the premarket session at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40927367/zimmer-biomet-to-stop-selling-cpt-hip-implant-system-by-end-of-2024-due-to-high-fracture-risks" target="_blank" rel="noreferrer noopener">Zimmer Biomet To Stop Selling CPT Hip Implant System By End Of 2024 Due To High Fracture Risks</a>.</li>
</ul>
Photo: Courtesy of Bill Jerome on Flickr

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is going to go higher, adding that <a href="https://www.benzinga.com/quote/WFC">it's a &#8220;winner.&#8221;</a>
On Sept. 17, the San Francisco-based bank launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API portfolio. 
These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients <a href="https://www.benzinga.com/markets/equities/24/09/40903846/wells-fargo-launches-new-apis-to-boost-efficiency-and-productivity-details">across several industries.</a>
&#8220;It's had too big a move up,&#8221; Cramer said when asked about Iron Mountain Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>). &#8220;Let's move on.&#8221;
On Aug. 1, Iron Mountain reported better-than-expected second-quarter financial results and issued FY24 AFFO guidance above estimates. Also, the company increased its quarterly dividend.
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is a &#8220;cold&#8221; stock, Cramer said.
On Sept. 17, the company inked a multi-year, multi-million-dollar contract with Nebraska Medicine. As per the deal, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through <a href="https://www.benzinga.com/markets/equities/24/09/40898997/palantirs-ai-powers-nebraska-medicine-inks-multi-million-dollar-deal-to-advance-patient-care">transformative technologies</a>.
The &#8220;Mad Money&#8221; host recommended buying PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>). &#8220;That stock is a good one, rate increase or no,&#8221; he added.
On Sept. 12, B of A Securities analyst Ross Fowler reinstated PG&amp;E with a Buy and announced a $24 price target.
Price Action:
<ul>
<li>Iron Mountain shares gained 0.5% to settle at $116.45 on Wednesday.</li>
<li>Wells Fargo shares fell 0.5% to close at $54.26 during the session.</li>
<li>Palantir shares fell 0.2% to close at $36.38 during Wednesday's session.</li>
<li>PG&amp;E shares fell 1.8% to settle at $19.51.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Image: Wikimedia Commons

Jim Cramer: This Utilities Stock Is A Buy, Calls Wells Fargo A 'Winner'

Investors with a lot of money to spend have taken a bearish stance on Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WFC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,775, and 7, calls, for a total amount of $276,497.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $56.0 for Wells Fargo over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale activity within a strike price range from $40.0 to $56.0 in the last 30 days. 
<h3>Wells Fargo Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726673608_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$0.5</td>
<td>$0.48</td>
<td>$0.49</td>
<td>$55.00</td>
<td>$61.2K</td>
<td>12.0K</td>
<td>1.7K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/27/24</td>
<td>$4.95</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$50.00</td>
<td>$49.0K</td>
<td>282</td>
<td>251</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$1.83</td>
<td>$1.8</td>
<td>$1.8</td>
<td>$54.00</td>
<td>$36.0K</td>
<td>1.1K</td>
<td>24</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$2.98</td>
<td>$2.89</td>
<td>$2.97</td>
<td>$52.00</td>
<td>$35.7K</td>
<td>2.3K</td>
<td>125</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$0.68</td>
<td>$0.67</td>
<td>$0.68</td>
<td>$56.00</td>
<td>$34.1K</td>
<td>320</td>
<td>517</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 2,725,452, the WFC's price is down by -0.06%, now at $54.48. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 23 days.</li>
</ul>
<h3>What The Experts Say On Wells Fargo</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $65.0.
<ul>
<li>Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Wells Fargo with a target price of $65. </li>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $65. </li>
<li>An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $65. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wells Fargo options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Check Out What Whales Are Doing With WFC

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading higher on Tuesday. The company launched specialized Application Programming Interfaces (APIs) for its Commercial <a href="https://www.benzinga.com/pressreleases/24/09/b40899845/wells-fargo-expands-api-capabilities-for-its-commercial-banking-business" target="_blank" rel="noreferrer noopener">Banking clients, expanding its API portfolio</a>.
These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients across several industries.
Wells Fargo&#8217;s API platform allows manufacturers, distributors, and dealers to seamlessly connect through their preferred systems. Automatic updates flow between trading partners, eliminating the need for manual data entry or file transfers, providing clients with instant access to crucial business insights.
Daniel Pfeiffer, head of Wells Fargo Global Receivables, Trade, and Inventory Finance, said, &#8220;By expanding our API technology, we took a step forward in taking out the complexity of navigating various systems allowing clients to embed the functionality they need to manage their inventory and processes in their system of choice.&#8221;
Reetika Grewal, Wells Fargo&#8217;s head of Digital for Commercial Banking and Corporate &amp; Investment Banking stated, &#8220;This expansion of our portfolio will allow our clients to be even more connected to the platforms they are using and ensure they have an end-to-end view that can streamline their business operations and provide information at a faster speed.&#8221;
This month, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) and&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/09/40842814/wells-fargo-reaches-agreement-with-us-bank-regulatory-agency-about-anti-money-laundering-financial-c" rel="noreferrer noopener">sanctions risk management practices</a>.&nbsp;
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are up 2.26% at $55.01 at the last check Tuesday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40859481/wells-fargos-anti-money-laundering-compliance-analysts-see-minimal-impact-on-growth" target="_blank" rel="noreferrer noopener">Wells Fargo&#8217;s Anti-Money Laundering Compliance: Analysts See Minimal Impact on Growth Despite Regulatory Hurdles</a></li>
</ul>

Wells Fargo Enhances API Solutions For Commercial Banking, Offering Real-Time Data Access To Improve Sales, Liquidity, And Risk Management Across Multiple Industries

Americans receiving <a href="https://www.benzinga.com/personal-finance/24/09/40800774/gen-xs-looming-retirement-crisis-is-worse-than-they-realize-expert-compares-it-to-being-handed-a">Social Security payments</a> may see less of an increase next year, according to a nonprofit group that represents senior citizens.
The Social Security Administration is poised to announce its yearly cost of living adjustment (COLA) for payments to 71 million Americans in the middle of next month, effective in January 2025. The government agency handed out a 3.2% increase for this year last October.
The Senior Citizens League expects a 2.5% increase for next year, based on inflation falling from 2.9% in July to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40815794/fed-is-all-clear-for-launch-on-cutting-rates-as-inflation-falls-to-lowest-point-in-">2.5% in August</a>.
By law, the annual inflation adjustment is based on the average inflation during July, August, and September&nbsp;as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Read Also: <a href="https://www.benzinga.com/personal-finance/24/09/40817544/report-warns-of-16-500-annual-social-security-benefit-cut-for-dual-income-couples-by-2033">Report Warns of $16,500 Annual Social Security Benefit Cut for Dual-Income Couples by 2033</a>
The Bureau of Labor Statistics averages the CPI-W for these three months and then compares it with the same time frame from the previous year. The percentage difference between the two is the COLA, payable for checks received in January 2025. 
The league says the expected 2.5% increase will not be enough for seniors to meet the higher cost of living. 
Nearly 80% of senior households report that their monthly budget for essential items like food, housing, and prescription drugs had increased over the last 12 months, according to a 2024 survey taken by the organization. Almost two-thirds &#8212; 63% &#8212; say they&#8217;re worried that their income won&#8217;t be enough to cover these basic costs in the coming months.
&#8220;Ensuring that seniors have enough to feed and house themselves with dignity is a major reason why we advocate for a minimum COLA of 3%,&#8221; said Shannon Benton, the league&#8217;s executive&nbsp;director.&nbsp;
She said about two-thirds of seniors rely on Social Security for more than half of their monthly income, and 28% depend on it entirely.
Retirement Stocks
Dividend-yielding, retirement-oriented stocks, typically selected for their risk-averse nature, experienced mixed performance by midday trading on Monday.
<ul>
<li>Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) gained 0.92% to $72.06.</li>
<li>Anhueser Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) slipped 0.41% to $64.63.</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) rose 1.07% to $58.78.</li>
<li>Microsoft Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) slipped 0.19% to $429.78.</li>
</ul>
Retirement ETFs
Exchange-traded funds that are well suited for retirement trended upward on Monday.
<ul>
<li>Vanguard High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYM#NYSE">VYM</a>) rose 0.41%.</li>
<li>IShares MSCI EAFE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFA#NYSE">EFA</a>) gained 0.34%.</li>
<li>Vanguard Total World Stock ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VT#NYSE">VT</a>) edged up 0.53%.</li>
<li>IShares Cohen &amp; Steers REIT ETF ((BATS: <a class="ticker" href="https://www.benzinga.com/stock/icf#BATS">ICF</a>) went up 0.20%.</li>
<li>Vanguard Total Bond Market ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BND#NASDAQ">BND</a>) inched up 0.21%.</li>
</ul>
Retirement Plan Stocks
Financial service firms that offer retirement plans were also on the upswing on Monday.
<ul>
<li>The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) picked up 2.5% to $63.67.</li>
<li>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) gained 1.89% to $53.78.</li>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) gained 1.47% to $201.33.</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/personal-finance/24/09/40695081/we-should-not-just-be-dependent-upon-the-payroll-tax-to-fund-social-security-says-retirement-exp">&#8216;We Should Not Just Be Dependent Upon The Payroll Tax&#8217; To Fund Social Security, Says Retirement Expert Teresa Ghilarducci</a></li>
</ul>
Photo: Shutterstock

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Social Security Payments Set For 2.5% Increase Next Year; Retirement-Oriented Dividend Stocks Like Coca-Cola, Wells Fargo See Gains

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AGNC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$10.00</td>
<td>$95.6K</td>
<td>68.9K</td>
<td>6.8K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$23.00</td>
<td>$49.5K</td>
<td>15.2K</td>
<td>2.7K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$52.50</td>
<td>$49.7K</td>
<td>13.0K</td>
<td>2.2K</td>
</tr>
<tr>
<td>SQ</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$67.00</td>
<td>$900.0K</td>
<td>0</td>
<td>2.0K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$150.00</td>
<td>$112.9K</td>
<td>1.0K</td>
<td>1.2K</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$77.50</td>
<td>$175.0K</td>
<td>793</td>
<td>1.0K</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$55.00</td>
<td>$56.9K</td>
<td>5.5K</td>
<td>787</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$145.00</td>
<td>$35.0K</td>
<td>546</td>
<td>253</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$150.00</td>
<td>$30.0K</td>
<td>2.7K</td>
<td>118</td>
</tr>
<tr>
<td>V</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$290.00</td>
<td>$45.9K</td>
<td>6</td>
<td>52</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding AGNC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>), we observe a call option sweep with bearish sentiment. It expires in 123 day(s) on January 17, 2025. Parties traded 1518 contract(s) at a $10.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $95.6K, with a price of $63.0 per contract. There were 68988 open contracts at this strike prior to today, and today 6871 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option sweep with bullish sentiment. It expires in 4 day(s) on September 20, 2024. Parties traded 1500 contract(s) at a $23.00 strike. This particular call needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $49.5K, with a price of $33.0 per contract. There were 15281 open contracts at this strike prior to today, and today 2755 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on September 20, 2024. This event was a transfer of 1772 contract(s) at a $52.50 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $49.7K, with a price of $28.0 per contract. There were 13085 open contracts at this strike prior to today, and today 2253 contract(s) were bought and sold. 
• For SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we notice a put option trade that happens to be bullish, expiring in 46 day(s) on November 1, 2024. This event was a transfer of 2000 contract(s) at a $67.00 strike. The total cost received by the writing party (or parties) was $900.0K, with a price of $450.0 per contract. There were 0 open contracts at this strike prior to today, and today 2001 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bullish, expiring in 123 day(s) on January 17, 2025. This event was a transfer of 34 contract(s) at a $150.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $112.9K, with a price of $3321.0 per contract. There were 1074 open contracts at this strike prior to today, and today 1295 contract(s) were bought and sold. 
• For AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we notice a call option sweep that happens to be bullish, expiring in 60 day(s) on November 15, 2024. This event was a transfer of 1000 contract(s) at a $77.50 strike. This particular call needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $175.0K, with a price of $175.0 per contract. There were 793 open contracts at this strike prior to today, and today 1002 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a call option sweep that happens to be bullish, expiring in 32 day(s) on October 18, 2024. This event was a transfer of 633 contract(s) at a $55.00 strike. This particular call needed to be split into 36 different trades to become filled. The total cost received by the writing party (or parties) was $56.9K, with a price of $90.0 per contract. There were 5529 open contracts at this strike prior to today, and today 787 contract(s) were bought and sold. 
• For KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), we notice a call option trade that happens to be neutral, expiring in 123 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $145.00 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $350.0 per contract. There were 546 open contracts at this strike prior to today, and today 253 contract(s) were bought and sold. 
• Regarding BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we observe a call option sweep with bullish sentiment. It expires in 123 day(s) on January 17, 2025. Parties traded 21 contract(s) at a $150.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $1434.0 per contract. There were 2771 open contracts at this strike prior to today, and today 118 contract(s) were bought and sold. 
• For V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), we notice a call option sweep that happens to be bullish, expiring in 46 day(s) on November 1, 2024. This event was a transfer of 50 contract(s) at a $290.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $45.9K, with a price of $920.0 per contract. There were 6 open contracts at this strike prior to today, and today 52 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AFRM

AGNC

COIN

HOOD

10 Financials Stocks With Whale Alerts In Today's Session

VWAGY

Volkswagen Financial Services U.S. And Wells Fargo Announce Cooperation Agreement For Vehicle Purchase Financing Of Volkswagen, Audi, And Ducati Brands In The U.S.; Co-Branded Retail Financing To Launch April 2025

Editor&#8217;s Note: This article includes an update on Wells Fargo&#8217;s AML agreement with the U.S. Comptroller.
Wells Fargo &amp; Company shares are rising following news of a formal agreement with the U.S. Office of the Comptroller of the Currency to improve its anti-money laundering and sanctions risk management practices. The agreement includes steps like enhancing its risk management and seeking OCC approval before <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40859481/wells-fargos-anti-money-laundering-compliance-analysts-see-minimal-impact-on-growth">expanding certain offerings.</a>
When markets are climbing, many traders who sold early often regret their decision. They watch as the stocks they sold continue to rise, missing out on further gains. This seller&#8217;s remorse, a common phenomenon in bull markets, is often visible on stock charts, as traders rush to buy back shares they sold too soon. 
That's why Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is our Stock of the Day. It is an excellent example of this price action.
As you can see on the chart, the $46.80 level was resistance in July 2023. After hitting this resistance, the stock reversed and went lower.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="636" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/13115916/wfc-chart-1024x636.png" alt="" class="wp-image-547351" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/13115916/wfc-chart-1024x636.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/13115916/wfc-chart-300x186.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/13115916/wfc-chart-768x477.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/13115916/wfc-chart.png 1176w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
But in December 2023 the resistance was broken and the shares moved higher. When this occurred, some of the traders and investors who sold while the stock was at resistance came to regret their decisions to do so.
Some remorseful sellers decided to buy their shares back at the same price they had sold them, hoping to undo the mistake they felt they made by selling too early.
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As a result, after Wells Fargo sold off and returned to the $46.80 level, these remorseful sellers placed buy orders. There were so many of them that it created support at the same price level that had previously been resistance.
The next important resistance was the $51.20 level. The shares stalled out here in early February. Then in late February, this resistance was broken and the stock took off.
When this happened a number of those who sold while the shares were at resistance came to think they made a mistake. So, they decide that they will buy their shares back if they can eventually do so at the same price they were sold for.
When the price eventually dropped back to this level in August, they placed buy orders. And there were so many of these orders that it created support at the same price that had been resistance.
Price levels that were resistance can convert into support. This is a common occurrence in the financial markets. It happens because of sellers' remorse, and the chart of Wells <a href="https://www.benzinga.com/quote/WFC">Fargo</a> is a good example of it.
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Photo: Shutterstock

Technicals

Stock Of The Day: Regretful Sellers Rebuy Their Wells Fargo Shares (UPDATED)

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading higher on Friday. On Thursday, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) <a target="_blank" href="https://benzinga.com/government/24/09/40842814/wells-fargo-reaches-agreement-with-us-bank-regulatory-agency-about-anti-money-laundering-financial-c" rel="noreferrer noopener">and&nbsp;sanctions risk management practices</a>.
Wells Fargo issued a statement Thursday announcing a new agreement, which will require enhancements to the bank&#8217;s AML and sanctions risk management practices, obtaining the OCC&#8217;s acceptance of Wells Fargo&#8217;s program for assessing the AML and sanctions risks of new offerings and providing notice to the OCC before expanding certain of those offerings.&nbsp;
Goldman Sachs analysts Richard Ramsden and James Yaro write that it appears that Wells Fargo has been aware of the issues related to this enforcement action for some time, so they don&#8217;t expect it to affect their <a target="_blank" href="https://www.benzinga.com/quote/WFC/analyst-ratings" rel="noreferrer noopener">2024 expense outlook significantly</a>.
Based on past cases, if Wells Fargo resolves the control deficiencies within the OCC&#8217;s timeline, it&#8217;s unlikely to escalate to a more serious consent order, which could involve civil penalties and stricter business limitations, per the analysts.
Analysts say that while the agreement restricts WFC from expanding into products or services with medium or high BSA/AML risk without approval, they don&#8217;t foresee a material impact on their near-term growth.
RBC Capital Markets analyst Gerard Cassidy writes that although this news is unexpected and AML issues are serious, often involving fines, lengthy resolutions, and high costs, they don&#8217;t believe this agreement will affect the chances of lifting the Federal Reserve&#8217;s 2018 Cease and Desist (C&amp;D) order and asset cap.
The C&amp;D order is focused on WFC&#8217;s consumer banking issues, while today&#8217;s agreement addresses separate AML concerns, adds the analyst.
Last month, Wells Fargo planned to sell its non-agency third-party commercial mortgage servicing segment to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40468566/whats-going-on-with-wells-fargo-stock-tuesday" rel="noreferrer noopener">Trimont</a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40468566/whats-going-on-with-wells-fargo-stock-tuesday" rel="noreferrer noopener">, closing in early 2025</a>.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are up 1.48% at $52.33 at the last check Friday.
Image via Shutterstock
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Analyst Color

Analyst Ratings

Wells Fargo's Anti-Money Laundering Compliance: Analysts See Minimal Impact on Growth Despite Regulatory Hurdles

Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares traded lower Thursday after the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) and <a href="https://www.benzinga.com/pressreleases/24/09/b40840626/wells-fargo-issues-statement-on-agreement-with-occ">sanctions risk management practices.&nbsp;</a>
The Details: The OCC said that it found deficiencies relating to Wells Fargo's anti-money laundering internal controls and financial crimes risk management practices.&nbsp;
Wells Fargo issued a statement Thursday announcing a new agreement, which will require enhancements to the bank's anti-money laundering (AML) and sanctions risk management practices, obtaining the OCC&#8217;s acceptance of Wells Fargo's program for assessing the AML and sanctions risks of new offerings and providing notice to the OCC before expanding certain of those offerings. 
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&#8220;We have been working to address a substantial portion of what&#8217;s required in the formal agreement, and we are committed to completing the work with the same sense of urgency as our other regulatory commitments,&#8221; Wells Fargo said in the statement issued Thursday.&nbsp;
WFC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Well Fargo shares ended Thursday's session 4.02% lower at $51.57.
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Government

Regulations

Wells Fargo Reaches Agreement With US Bank Regulatory Agency About Anti-Money Laundering, Financial Crimes Risk Management Practices

Wells Fargo shares are trading lower after the bank reached a formal agreement with the OCC to enhance its anti-money laundering and sanctions risk management practices, following an enforcement action by the regulator.

"We have been working to address a substantial portion of what's required in the formal agreement, and we are committed to completing the work with the same sense of urgency as our other regulatory commitments."

Wells Fargo Reaches Formal Agreement With OCC To Enhance Anti-Money Laundering And Sanctions Risk Management Practices, Including OCC Approval Of Risk Assessment Program For New Offerings And Notice Requirements Before Expansion

Office Of The Comptroller Of The Currency Issues Enforcement Action Vs Wells Fargo Bank

Goldman Sachs analyst Richard Ramsden maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Buy and lowers the price target from $68 to $65.

Price Target

Goldman Sachs Maintains Buy on Wells Fargo, Lowers Price Target to $65

Whales with a lot of money to spend have taken a noticeably bearish stance on Wells Fargo.
Looking at options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) we detected 23 trades.
If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $823,066 and 12, calls, for a total amount of $518,846.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.0 to $70.0 for Wells Fargo over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale activity within a strike price range from $47.0 to $70.0 in the last 30 days. 
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726070423_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$0.6</td>
<td>$0.51</td>
<td>$0.53</td>
<td>$47.00</td>
<td>$265.0K</td>
<td>0</td>
<td>0</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$0.8</td>
<td>$0.77</td>
<td>$0.77</td>
<td>$52.50</td>
<td>$115.5K</td>
<td>13.9K</td>
<td>75</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$0.65</td>
<td>$0.63</td>
<td>$0.64</td>
<td>$52.00</td>
<td>$96.0K</td>
<td>868</td>
<td>1.5K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.65</td>
<td>$4.6</td>
<td>$4.6</td>
<td>$50.00</td>
<td>$77.2K</td>
<td>2.9K</td>
<td>254</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$2.71</td>
<td>$2.65</td>
<td>$2.65</td>
<td>$52.50</td>
<td>$75.8K</td>
<td>826</td>
<td>288</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Following our analysis of the options activities associated with Wells Fargo, we pivot to a closer look at the company's own performance.
<h3>Where Is Wells Fargo Standing Right Now?</h3>
<ul>
<li>With a trading volume of 4,967,915, the price of WFC is down by -2.33%, reaching $52.7.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 30 days from now.</li>
</ul>
<h3>Expert Opinions on Wells Fargo</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $65.0.
<ul>
<li>An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $65. </li>
<li>Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $65. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wells Fargo options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Behind the Scenes of Wells Fargo's Latest Options Trends

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Wells Fargo shares are trading higher after CFO Mike Santomassimo said consumers and commercial clients are doing well and overall deposits are performing well.

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Press Releases

Wells Fargo Enters into Agreement with Trimont to Sell the Non-Agency Third-Party Servicing Segment of its Commercial Mortgage Servicing Business

Trimont Signs Definitive Agreement to Acquire Wells Fargo Non-Agency Third-Party Commercial Mortgage Servicing Business

Wells Fargo Reaffirms Commitment as Official Bank Sponsor for the 2024 Orange Blossom Classic

Wells Fargo to Present at the Barclays Global Financial Services Conference

Entertainment

EBONY is Bringing the Ultimate HBCU Experience to Atlanta with Inaugural Yard Fest in Partnership with Wells Fargo and 300 Entertainment

Andrew Barnes Joins Wells Fargo Commercial Banking Team to Lead the Military and Veteran Segment

Wells Fargo Issues Statement on Agreement with OCC

Volkswagen Financial Services U.S. and Wells Fargo announce cooperation agreement for vehicle purchase financing of Volkswagen, Audi, and Ducati brands in the United States

Wells Fargo Expands API Capabilities for its Commercial Banking Business

Wells Fargo Bank Decreases Prime Rate to 8.00 Percent

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Latest news for Wells Fargo (NYSE:WFC) Stock

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