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Wells Fargo CEO, Chairman Buy $5 Million of Company's Stock

A Wells Fargo & Co. bank branch stands in Washington, D.C.
Photographer: Andrew Harrer/Bloomberg
Updated on

Wells Fargo & Co. Chief Executive Officer Tim Sloan and Chairman Stephen Sanger bought more than $5 million of the company’s stock a week after the board published a report into its bogus account scandal to help rebuild investor confidence.

Sloan purchased just over $2 million of shares on Monday, while Sanger acquired a bit more than $3 million, according to regulatory filings. Both documents list the same price for the securities, $51.65. Wells Fargo advanced 1.8 percent to $52.26 at 1:36 p.m. in New York.