Wells Fargo hit by legal charges, mortgage banking slump

14 October, 2017, 00:58 | Author: Malcolm Fuller
  • Eagle Ridge Investment Management Decreased Its Procter And Gamble Co (PG) Stake; Alpha Cubed Investments Increased Wells Fargo Co New (WFC) Holding By $6.46 Million

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. Share performance for the month is now at 4.60%. Moreover, Trustmark Commercial Bank Tru Department has 0.65% invested in Wells Fargo & Co (NYSE:WFC). "Our balance sheet remained strong, which enabled us to repurchase almost $3 billion in common stock and pay $1.3 billion in common stock dividends in the quarter". They expect $1.07 EPS, up 3.88% or $0.04 from last year's $1.03 per share.

Wells Fargo is the largest USA residential mortgage lender, making more than US$98 billion worth of loans in the first half of the year, according to trade publication Inside Mortgage Finance. Ackerman Capital Advisors LLC acquired a new stake in shares of Wells Fargo & in the 2nd quarter valued at approximately $203,000. Compass Capital holds 8,858 shares or 0.08% of its portfolio. Longview Partners Guernsey LTD lifted its position in shares of Wells Fargo & by 5.3% in the second quarter. Delphi Management Inc Ma has invested 2.68% in Wells Fargo & Co (NYSE:WFC). Grassi Investment Management controls 124,742 shares valued at $6,880,000.

Aristotle Fund Lp decreased its stake in Wells Fargo & Co. The company rocked its 52-Week High of $59.99 and touched its 52-Week Low of $44.28.

The P/E ratio is now 13.71 and the market cap of the company is 276.29B.

A statistical measure of the dispersion of returns (volatility) for WFC producing salvation in Investors mouth, it has week volatility of 1.18% and for the month booked as 1.28%.

A surge in technology stocks sent the S&P 500 and the Nasdaq to record highs on Friday, but the gains were kept in check by a drop in banks as Wells Fargo missed revenue estimates for a fourth straight quarter. The company's revenue for the quarter was up.2% compared to the same quarter previous year. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks' consensus estimate of $1.03 by ($0.19), MarketWatch Earnings reports. On average, equities research analysts forecast that Wells Fargo & Company will post $4.14 EPS for the current fiscal year.

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Wells Fargo & declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.2% of its stock through open market purchases. The investor checklist may include studying the scope of a company's competitive industry advantage, examining company management, and trying to get a general feel if the stock is valued properly. If you are viewing this news story on another website, it was illegally copied and republished in violation of United States & global trademark & copyright laws.

Several other research analysts also recently issued reports on WFC. The stock of Wells Fargo & Co (NYSE:WFC) has "Hold" rating given on Friday, July 7 by Jefferies.

Among 16 analysts covering FirstEnergy (NYSE:FE), 5 have Buy rating, 1 Sell and 10 Hold. On Thursday, December 3 the stock rating was upgraded by Guggenheim to "Buy". Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company.

When it comes to the Analysis of a Stock, Price Target plays a vital role.

Institutional owners hold 77.30% stake while Insiders ownership held at 79.58% in the company. The Company is a diversified financial services company. The litigation cost of $1 billion contributed to an operating loss of $1.3 billion in the third quarter and increased the efficiency ratio to a worse-than-expected 65.5%.

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