Wells Fargo Chairman Buys Stock (WFC)

Banking, finance, and taxes

Published: March 5, 2009 2:38 pm

Last Updated: March 26, 2020 3:55 pm

money-stack-image12 The chairman of the board of directors of Wells Fargo & Co. (NYSE: WFC) has just used today’s weakness to buy stock. Richard Kovacevich spent $805,000 to purchase 100,000 shares of Wells Fargo common stock at an average of $8.05 per share. He owns about 2.365 million shares. Wells Fargo shares are off of the lows, but the stock is still down 14% at $8.28 at a new 52-week low if this closes under $8.81. Its 52-week high is $44.75. As a reminder, this is one of Warren Buffett’s larger positions of stock.

Jon C. Ogg
March 5, 2009

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