NEW YORK (TheStreet) -- Wells Fargo's(WFC) - Get Report former CEO John Stumpf has resigned from the boards of Target (TGT) and Chevron (CVX). 

Stumpf notified Target yesterday that he was exiting his position on its board "effective immediately," according to an Oct. 18 SEC filing.

Stumpf also resigned from Chevron's board yesterday, citing "personal reasons and not as a result of a disagreement" with the company, Chevron said in a separate filing dated Oct. 18.

Earlier this month, Stumpf retired from his role as CEO at Wells Fargo due to an ongoing investigation into the bank's sales practices. 

Wells Fargo was fined $185 million in September after a Consumer Financial Protection Bureau investigation revealed that the bank had opened about 2 million customer accounts without customer knowledge. 

(Wells Fargo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

The team rates Wells Fargo as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and attractive valuation levels. The team feels its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: WFC

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