Shares of Wells Fargo ( WFC) closed at $31.18 Thursday, returning 15% year-to-date, following a 10% decline in 2011. With a 22% quarterly payout, the shares have a dividend yield of 2.82%.
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The fallout continues from Wells Fargo's cross-selling scandal, with CLSA analyst Mike Mayo calling for CEO John Stumpf to forego some of his pay and consider relinquishing the chairman's role.
CLSA analysts say their support for Wells Fargo's (WFC) CEO John Stumpf is 'wavering' as he hasn't been transparent about how management will be affected by the illegal account openings.