BB&T, Wells Mortgage Rate Deals Thursday Oct 12, 2017

Gov't Stress Test Reportedly Suggests Wells Fargo To Raise Capital

Keefe, Bruyette & Woods restated a "buy" rating and set a $62.00 price objective on shares of Wells Fargo & in a report on Friday, June 23rd. They expect $1.07 EPS, up 3.88% or $0.04 from last year's $1.03 per share.

Wells Fargo & Co's Wealth and Investment Management division reported revenue of $4.25 billion in the third quarter of the year.

Net income fell 18.6 percent to $4.60 billion, or 84 cents per share for the quarter ended September 30, hurt by $1 billion in costs related to old mortgage problems. Boston Family Office Ltd Liability Company reported 29,292 shares. For the quarter, shares have been noted at 5.12%. The stock has performed -0.32% over the last seven days, 7.29% over the last thirty, and 0.40% over the last three months. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Wells Fargo & by 49.5% in the first quarter. On Friday, May 5 SARGENT RONALD bought $499,108 worth of Wells Fargo & Co (NYSE:WFC) or 9,050 shares. Institutional investors and hedge funds own 75.12% of the company's stock. Chief Financial Officer John Shrewsberry suggested Wells Fargo may also face issues hitting next year's cost-efficiency target.

Keeping an eyeball on Moving Averages, the 50-day is 52.89; the 200-day is at 53.57, for Wells Fargo & Company (WFC). The company has a market cap of $274.06 billion, a PE ratio of 13.60 and a beta of 0.97. Riverbridge Prtn Lc reported 0.01% in Wells Fargo & Co (NYSE:WFC).

Wells Fargo's return on equity, which is a measure of how well a bank is performing with the assets it has, took a tumble this quarter as well to 9.06 percent from 11.6 percent. The company's revenue was up.2% compared to the same quarter a year ago. The hedge fund held 453,685 shares of the major banks company at the end of 2017Q2, valued at $25.14M, up from 437,550 at the end of the previous reported quarter.

Heading into the earnings release, covering analysts have a consensus target price of $57.80 on Wells Fargo & Company shares. Kentucky-based Parthenon Ltd Limited Liability Company has invested 0.07% in Wells Fargo & Co (NYSE:WFC). This buyback authorization allows the financial services provider to repurchase 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.

WARNING: This piece of content was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another site, it was illegally copied and republished in violation of U.S. & worldwide copyright & trademark legislation. The legal version of this piece can be viewed at https://weekherald.com/2017/10/13/wells-fargo-company-wfc-shares-sold-by-busey-trust-co.html. The firm has "Buy" rating by Argus Research given on Tuesday, January 19. More recently, Wells Fargo has come under fire over auto-loan clients who were forced to pay for unwanted vehicle insurance and mortgage customers who were improperly charged fees. The stock has "Outperform" rating by Evercore on Wednesday, April 12.

That has made it hard for outsiders to quantify how Wells Fargo's scandal has influenced results.

In addition to Jefferies & Co reporting its target price, a total of 29 firms have issued a report on the stock. The stock of Wells Fargo & Co (NYSE:WFC) has "Buy" rating given on Wednesday, September 2 by Sandler O'Neill. The Company is a diversified financial services company.

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