Wells Fargo (WFC) CEO Says Bank to Repay TARP Without Raising Equity
More News related to WFC
- Latest Wells Fargo Survey: Small Business Owner Optimism Remains Low; Outlook for Capital Spending and Revenue Improves
- Wells Fargo Extends Text Banking to All Customers
- Wells Fargo to Present at Credit Suisse Financial Services Forum 2010
- Wells Fargo Names John Carley to Agribusiness Group
- Wells Fargo Commercial Banking Sets Stage for Growth in California
More News related to Equity Offerings
- Hoku Scientific (HOKU) Files 20.01M Common Shelf for a Selling Shareholder
- China Agritech (CAGC) Files $100M Mixed Securities Shelf
- ChinaTel Group (CHTL) Jumps Higher On 'Above-Market' Equity Financing
- Developers Diversified Realty (DDR) Prices 37.3M Common Offering at $8.16/Share
- EV Energy Partners (EVEP) Prices 3M Common Unit Offering at $28.08/Unit
In an interview with Bloomberg TV today, Wells Fargo's (NYSE: WFC) CEO, John Stumpf, has said that the bank will not need to raise equity in order to repay the $25 billion in TARP funds it owes.
"We will pay it back, but we're going to pay it back in a shareholder-friendly way. We are now earning capital so quickly, organically, we don't want to dilute our existing shareholders."
We heard rumors earlier of a possible secondary offering.
After jumping about 2% just after the comments hit the wires, shares of Wells Fargo moved modestly lower, closing today's trading session down 4.8% to $26.21.
Related Categories
Equity OfferingsTrader Talk
Stocks Mentioned
+0.28Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
