New York, January 28, 2026, 21:27 EST — Market closed
- Shares of Wells Fargo slipped 0.77%, ending Wednesday at $88.03.
- The bank’s wealth unit rolled out its own proxy-voting service, ending its relationship with ISS.
- Wells Fargo announced a quarterly dividend of $0.45, set to be paid on March 1.
Shares of Wells Fargo & Company dipped 0.77% to close at $88.03 on Wednesday. Investors reacted to the Federal Reserve’s decision to hold rates steady and digested the bank’s launch of a new in-house proxy-voting system. 1
Banks usually react to minor changes in interest-rate forecasts. Wells Fargo, however, has added two new, company-specific factors: a governance shake-up in its wealth division and a dividend announcement. Investors are weighing these as they prepare for the next session.
The Fed kept its policy rate steady at 3.50%–3.75%, signaling a cautious stance on any near-term cuts. Chair Jerome Powell noted, “The economy has once again surprised us with its strength.” Michael Pearce, chief U.S. economist at Oxford Economics, described the move as “an extended pause.” 2
For lenders, a prolonged pause cuts both ways. It helps prevent loan yields from dropping too fast, yet it also runs the risk of deposit costs staying stubbornly high if the scramble for funding remains fierce.
Wells Fargo’s wealth and investment management division rolled out an internal proxy-voting service on Wednesday, ending its relationship with proxy adviser ISS, a source told Reuters. Proxy advisers typically help institutional investors decide how to vote on shareholder proposals and board issues before annual meetings. 3
“We recognize the vital role our clients play in the companies they invest in,” said Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management. Broadridge Financial Solutions, supplying the technology platform, highlighted that its “custom policy engine delivers independent data and research.” 4
The day before, Wells Fargo announced its board approved a quarterly dividend of $0.45 per share. The payout is set for March 1, to shareholders recorded by Feb. 6. 5
Wells Fargo’s shift stood out amid a choppy session for major U.S. banks. JPMorgan Chase edged up a bit, whereas Bank of America dropped, based on MarketWatch figures. 6
The road ahead isn’t smooth. Should inflation hold steady and rate cuts slip further, bank shares could remain volatile. Even a slight sign of weakening credit performance might quickly dominate company news.
Ahead of Thursday’s open, traders are zeroing in on key U.S. data that might shake up yields and rate expectations. The Labor Department will roll out its productivity and costs report on Jan. 29, followed by producer prices on Jan. 30. Wells Fargo is set to present at the UBS Financial Services Conference on Feb. 10, per the bank’s investor calendar. 7
