Bank regulator faults itself for missing Wells Fargo issues
- Author: Tracy Ferguson Apr 20, 2017,
Apr 20, 2017, 0:08
In other news, CEO Timothy J. Sloan acquired 39,000 shares of the firm's stock in a transaction that occurred on Monday, April 17th. The shares were purchased at an average cost of $51.65 per share, for a total transaction of $3,013,364.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Wells Fargo closed up over 2 percent at $52.72 per share on Monday, as investors took the purchases as a vote of confidence in the beleaguered bank. The stock's 50 day moving average is $56.43 and its 200 day moving average is $53.53. The company's market cap is $77.97 Billion, and the average volume is 13.4 Million.
The stock volatility for week was 2.09% while for month was 1.81%.The stock, as of last close, traded 22.26% to its 52 week low and was changed -12.57% from its 52 week high.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Thursday, April 13th.
The company's expected revenue in the current quarter to be 22.31 Billion, seeing a projected current quarter growth of -2%, and per annum growth estimates over the next 5 year period of around 7.46%. The company's quarterly revenue was down.9% on a year-over-year basis. Comparatively, QCOM posted earnings of $1.17 per share in the same quarter, a year earlier. Analysts forecast that Wells Fargo & Co will post $4.20 EPS for the current year. If you are reading this news story on another website, it was illegally copied and reposted in violation of worldwide copyright & trademark laws. Jefferies Group LLC reiterated a "hold" rating and issued a $62.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, April 5th.
There were 700 cases of whistleblower complaints from Wells Fargo employees at that time, the report said.
Several investment firms issued their expert ratings on Wells Fargo & Company (WFC) in which PiperJaffray Upgrades Wells Fargo & Company (WFC) to Neutral with no specific Price Target on 4/10/17. Zacks Investment Research lowered Wells Fargo & Co from a "buy" rating to a "hold" rating in a research note on Saturday, December 31st. Finally, Robert W. Baird reaffirmed a "buy" rating and issued a $58.00 target price on shares of Wells Fargo & Co in a report on Tuesday, January 10th. Stock has got OUTPERFORM rating from 20 analysts of Thomson Reuters, 3 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. The stock now has an average rating of "Hold" and an average price target of $54.01. Hedge funds and other institutional investors own 73.25% of the company's stock. The return on assets ratio shows how well management is employing the company's total assets to make a profit. Finally, Johanson Financial Advisors Inc. raised its position in shares of Wells Fargo & Co by 8.5% in the third quarter. Davis Selected Advisers now owns 26,425,695 shares of the financial services provider's stock worth $1,456,320,000 after buying an additional 232,344 shares in the last quarter. I.G. Investment Management LTD.'s holdings in Wells Fargo & Co were worth $178,608,000 at the end of the most recent quarter. About shares traded. Wells Fargo & Co (NYSE:WFC) has risen 8.21% since September 9, 2016 and is uptrending. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider's stock valued at $107,000 after buying an additional 363 shares in the last quarter. The Regis Management Co Llc holds 84,834 shares with $1.85M value, down from 370,831 last quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider's stock worth $112,000 after buying an additional 900 shares in the last quarter. Corporate insiders own 0.29% of the company's stock.
Wells Fargo & Company (NYSE:WFC) tinted gains of +2.67% (+1.37 points) to US$52.72.
"States know best what is happening within our own unique borders", said Maria Vullo, superintendent of the New York State Department of Financial Services, at an event in Washington. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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