Wells Fargo Advisors Also Created Fake Accounts

US senators raise questions over fired Wells Fargo workers

Wells Fargo & Co has fired hundreds of employees with Wall Street licenses for improper sales practices, three US senators said on Thursday. Shares were Downgraded by FBR & Co. on Oct 19, 2016 to " Mkt Perform" and Lowered the Price Target to $ 45 from a previous price target of $50.Wells Fargo & Co was Downgraded by Keefe Bruyette to " Mkt Perform" on Oct 17, 2016. Wells Fargo & Co makes up approx 0.88% of Mitsubishi Ufj Kokusai Asset Management Ltd.'s portfolio.Everett Harris Co Ca reduced its stake in WFC by selling 10,122 shares or 9.02% in the most recent quarter. Coconut Grove Bank increased its position in shares of Wells Fargo & Co.by 54.9% in the third quarter. Stock 3 months performance is recorded as -80.66%. The stock has a market capitalization of $224.07 billion, a price-to-earnings ratio of 11.07 and a beta of 0.93.

Other large investors also recently added to or reduced their stakes in the company. The share price of $16.55 is at a distance of 52.38 percent from its 52-week low and down -7.16 percent versus its peak. Financial Advisory Group now owns 4,264 shares of the financial services provider's stock valued at $206,000 after buying an additional 22 shares during the last quarter.

Wells Fargo & Company had its "outperform" rating reiterated by analysts at Barclays. The stock had a trading volume of 27,391,609 shares. Berenberg Bank began coverage on Wells Fargo & Co.in a research report on Wednesday, July 13th.

Wells Fargo & Company has a 50 day moving average of 45.30 and a 200 day moving average of 47.81.

The share price of the company (NYSE:WFC) was down -1.63% during the last trading session, with a high of 45.42 and the volume of Wells Fargo & Company shares traded was 27391609.

For the upcoming quarter, initial predictions are anticipating that the company will post earnings of $0.95 per share according to consensus of 23 analysts. Firm quarterly performance is -4.86%. The company had revenue of $22328.00 million for the quarter, compared to analysts expectations of $22062.98 million. During the same quarter in the prior year, the business earned $1.05 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. The share price is now -1.09 percent versus its SMA20, -3.15 percent versus its SMA50, and -5.55 percent versus its SMA200. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.'s dividend payout ratio is now 37.44%.

Hundreds of the company's brokerage employees were sacked for improper sales, senators Elizabeth Warren, D-Mass., Ron Wyden, D-Ore., and Bob Menendez, D-N.J., wrote in a letter to Wells Fargo chief Tim Sloan, who took over after John Stumpf resigned last month, according to Reuters. Evercore ISI reissued a "buy" rating and issued a $51.00 price target on shares of Wells Fargo & Co.in a report on Sunday, October 23rd. They noted that the move was a valuation call. 6 given Buy rating to the stock whereas 4 analysts given UNDERPERFORM rating to stock and 12 analysts given HOLD rating.

According to sentiments of 29 analysts the mean estimates of short term price target for the company's stock is marked at $49.34. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00.

Recently stock market analysts have updated their consensus ratings on shares of Wells Fargo & Company (NYSE:WFC). The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The Securities Arbitration Law Firm of Klayman & Toskes, P.A. continues to investigate Wells Fargo (WFC) and its broker accorder, Wells Fargo Advisors, for potential Financial Industry Regulatory Authority (FINRA) sales practice infringement from its "cross selling" incentive programs. The Company's segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. Its Community Banking segment offers financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending.

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