Wells Fargo beats on earnings, sets aside $1 billion for legal woes

5 Things to Watch in Wells Fargo's Results

110 funds opened positions while 566 raised stakes. The company holds 4.99 billion outstanding shares and 4.96 billion shares are floating in market. Midwest Investment Management Ltd Liability holds 2,801 shares.

"During the quarter, first under our 2017 Capital Plan, we returned $4 billion to shareholders through common stock dividends and net share repurchases, up from $3.4 billion in the second quarter", Shrewsberry said.

Revenues fell 1.8% from past year to $21.93 billion, however, missing analysts' view for $22.3 billion consensus. Investment Of Virginia Limited Liability Company accumulated 155,779 shares or 2.08% of the stock. $499,108 worth of Wells Fargo & Co (NYSE:WFC) was bought by SARGENT RONALD. Guardian Life Insurance Of America invested in 10,174 shares. 229,232 are held by Covington Mgmt. Keefe, Bruyette & Woods reaffirmed a "buy" rating and set a $62.00 price target on shares of Wells Fargo & in a research note on Friday, June 23rd.

The bank delivered adjusted earnings of $1.04 per share, slightly above the $1.03 per share Wall Street analysts expected and down from $1.05 last quarter. Gyroscope Mgmt Gp Limited Liability Company has invested 2.76% in Wells Fargo & Co (NYSE:WFC). Wells Fargo & Co (NYSE:WFC) has risen 9.67% since October 11, 2016 and is uptrending. East Coast Asset Mgmt Limited Co has 71,748 shares. "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".

Another Equifax hacking possible as web page taken down
The hack has led to multiple federal and state investigations and the departure of the company's 12-year chief executive. The cyberattack occurred through a vulnerability in an open-source application framework it uses called Apache Struts.

Since May 5, 2017, it had 1 buying transaction, and 3 insider sales for $3.93 million activity. Mack Mary T sold 38,988 shares worth $2.05M. The insider, HARDISON HOPE A., now holds 868 shares of WFC. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & by 26.7% during the 2nd quarter.

Technical traders may be staring at recent indicator levels on shares of Wells Fargo & Company (WFC). The company's earnings per share for the quarter was 84 cents. The stock declined 0.23% or $0.13 reaching $55.48 on the news. About 2,135 shares traded. Wells Fargo & Co now has $275.28B valuation. It has underperformed by 7.03% the S&P500. (NYSE:BMY) stake by 7,266 shares to 264,037 valued at $14.71 million in 2017Q2. The institutional investor held 8,061 shares of the railroads company at the end of 2017Q2, valued at $842,000, up from 3,466 at the end of the previous reported quarter. This translates into $5.20B profit for WFC giving the stock a 13.29 P/E. For the most recent quarter, quick ratio was -, current ratio was -, LT Debt/Equity ratio was 1.33 and Total Debt/Equity ratio stands at 1.33, while Payout ratio is 37.10%.

Costs at Wells Fargo increased 8% to $14.35 billion in the third quarter of 2016. More interesting news about Servicemaster Global Holdings Inc (NYSE:SERV) was released by: Bizjournals.com and their article: "Group activity: ServiceMaster bolsters diversity efforts with seven employee ..." with publication date: September 05, 2017. Therefore 50% are positive. Wells Fargo & Company had 97 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has "Strong-Buy" rating given on Friday, April 28 by Vining Sparks. The firm earned "Neutral" rating on Monday, October 10 by UBS. Eight Capital upgraded the stock to "Buy" rating in Friday, September 15 report. As per Tuesday, October 4, the company rating was downgraded by Raymond James. Instinet restated a "buy" rating and issued a $64.00 price objective on shares of Wells Fargo & in a research report on Wednesday, July 12th. Dundee Securities maintained it with "Neutral" rating and $20 target in Thursday, September 22 report.

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