Advisory firm: Vote out most of Wells Fargo's board

Tammy Harvey
April 8, 2017

Large investors have recently bought and sold shares of the company. CenturyLink Investment Management Co increased its position in Wells Fargo & Co by 3.7% in the third quarter. Finally, Teachers Advisors LLC increased its stake in shares of Wells Fargo & Co by 1.2% in the fourth quarter. The Company is a diversified financial services company.

The WSJ reports that Wells Fargo has previously fired more than a dozen employees of the merchant processing division over the past two years because of these issues. Community Bank N.A. now owns 47,150 shares of the financial services provider's stock valued at $2,087,000 after buying an additional 6,110 shares during the last quarter. Finally, Standard Life Investments LTD increased its position in shares of Wells Fargo & Co by 11.1% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider's stock worth $117,000 after buying an additional 247 shares during the last quarter. Wells Fargo & Co has an average rating of "Hold" and an average target price of $53.96. The 52-week range of the stock is $43.55 to $59.99. The firm has a market cap of $277.04 billion, a P/E ratio of 13.88 and a beta of 0.98. The company's 50-day moving average is $57.49 and its 200 day moving average is $52.94.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 13th. The high and low revenue estimates for the current quarter are $23.26 Billion and $22.33 Billion, respectively. The stock plunged -1.24 percent over the past quarter, while surged 27.58 percent over the past six months. The stock has lost -0.87% in the past month, -62.24% in the previous three months, and -61.00% on an YTD basis.

In order to reach an opinion and communicate the value and volatility of a covered security, analysts research public financial statements, listen in on conference calls and talk to managers and the customers of a company, typically in an attempt to capture the findings for a research report.

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Several research analysts have recently commented on the stock. Barclays PLC reissued a "buy" rating and issued a $65.00 price objective on shares of Wells Fargo & Co in a research note on Tuesday, January 10th. Evercore ISI reaffirmed a "buy" rating and set a $51.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 11th. Credit Suisse Group AG restated a "hold" rating and set a $56.00 price objective on shares of Wells Fargo & Co in a report on Friday, March 3rd.

During last 5 trades the stock sticks nearly -1.24%. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Institutional investors and hedge funds own 73.25% of the company's stock.

Ken Sweet covers banking and consumer financial issues for The Associated Press.

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