Wells Fargo ups sales practices settlement to $142 million
21 Avril, 2017, 19:40 | Author: Marc Bacque
The brokerage presently has a "buy" rating on the financial services provider's stock.
Stock is now moving with a positive distance from the 200 day simple moving average of approximately 4.31%, and has a poor year to date (YTD) performance of -2.26% which means the stock is constantly subtracting to its value from the previous fiscal year end price.
Several other research firms have also recently issued reports on WFC. The prominent billionaire's conglomerate, Berkshire Hathaway Inc (BRKa.N), owns almost 10 percent of Wells Fargo and Buffett personally owns shares as well.
Earnings per share (EPS) breaks down the profitability of the company on a single share basis, and for Wells Fargo & Company the EPS stands at 1 for the previous quarter, while the analysts predicted the EPS of the stock to be 0.97, suggesting the stock exceeded the analysts' expectations. The CEO has set admirable goals of turning Wells Fargo into a bank with the country's best service and advice. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of "Hold" and a consensus target price of $54.46.
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Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co (NYSE:WFC) from a market perform rating to an outperform rating in a report published on Wednesday. The company has a market capitalization of $267.33 billion, a price-to-earnings ratio of 13.38 and a beta of 0.98. The firm has a 50-day moving average of $19.85 and a 200-day moving average of $17.76. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. Wells Fargo & Co also was the target of unusually large options trading on Thursday. Investors purchased 41,049 call options on the stock.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks' consensus estimate of $0.97 by $0.03. The company earned $22 billion during the quarter, compared to analyst estimates of $22.25 billion. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and worldwide copyright and trademark law. The legal version of this news story can be read at [[permalink]]. The stock was sold at an average price of $59.02, for a total transaction of $6,946,890.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The shares were sold at an average price of $18.29, for a total value of $182,900.00.
A number of large investors have recently bought and sold shares of the company. Rocky Mountain Advisers LLC raised its stake in Wells Fargo & Co by 117.6% in the fourth quarter. Aperio Group LLC now owns 11,029 shares of the company's stock worth $190,000 after buying an additional 532 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in Wells Fargo & Co by 58.6% in the first quarter. Sharkey Howes & Javer now owns 5,959 shares of the financial services provider's stock valued at $264,000 after buying an additional 44 shares during the period. Trust Co now owns 76,204 shares of the financial services provider's stock worth $3,606,000 after buying an additional 1,494 shares in the last quarter. Institutional investors and hedge funds own 73.25% of the company's stock.
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