Wells Fargo & Company (NASDAQ:WFC) To Release Earnings

Tammy Harvey
July 15, 2017

Some could argue that market sentiment could have played into the investor reactions that are being seen Friday. Its down 0.30, from 0.97 in 2016Q3. ETRADE Capital Management LLC raised its stake in shares of Wells Fargo & Company by 2.7% in the third quarter. 149 funds opened positions while 487 raised stakes. At time of press, Bank of American showed a -2.01 percent change, while Wells Fargo was down 1.93 percent. Keefe, Bruyette & Woods restated an "overweight" rating on shares of Wells Fargo & Company in a report on Thursday. Next Grp holds 0% in Wells Fargo & Co (NYSE:WFC) or 36,420 shares. Agran Libbie holds 1.02% or 76,781 shares.

Wealth-management profit climbed 17 percent to $682 million as assets under management rose 8 percent to what the bank said was a record $1.8 trillion. Analysts forecast that Wells Fargo & Company will post $4.14 EPS for the current year. Sterneck Cap Mngmt Limited holds 1.39% or 39,358 shares. Wealth and Investment Management revenue increased to $682 million. It also reduced Eastman Chem Co (NYSE:EMN) stake by 16,607 shares and now owns 3.65 million shares. $137,899 worth of Aqua America Inc (NYSE:WTR) shares were sold by GLANTON RICHARD H.

Since March 3, 2017, it had 1 buy, and 7 insider sales for $397.31 million activity. Following the purchase, the chief executive officer now directly owns 754,581 shares of the company's stock, valued at $38,974,108.65. Wells Fargo & Company had a net margin of 23.18% and a return on equity of 12.56%. Shares for $499,108 were bought by SARGENT RONALD. Shares for $1.47M were sold by CARROLL DAVID M. Shares for $2.05 million were sold by Mack Mary T on Thursday, June 8.

Wells Fargo & Company (NYSE:WFC) posted its quarterly earnings data on Friday. Therefore 43% are positive. Vining Sparks upgraded Wells Fargo & Company to a "strong-buy" rating and set a $65.00 price objective for the company in a report on Thursday, April 27th.

"The basic view, which they've been pretty clear about, is that loan growth will be unfavorable for next 2 to 3 quarters", stated Brian Foran, an analyst at Autonomous Research. Its shares were down 1.2 percent at $54.94. Greenleaf Tru invested 0.04% in Wells Fargo & Co (NYSE:WFC). Raymond James downgraded Wells Fargo & Co (NYSE:WFC) on Tuesday, October 4 to "Underperform" rating. Cantor Fitzgerald maintained the stock with "Buy" rating in Monday, June 5 report. Vetr downgraded it to "Strong-Buy" rating and $58.72 target in Friday, August 28 report. The firm earned "Neutral" rating on Tuesday, January 19 by Compass Point. The company was upgraded on Wednesday, September 2 by Sandler O'Neill. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.97 by $0.03. The company holds 5.02 billion outstanding shares and 4.99 billion shares are floating in market. (WFC) and Citigroup (C) reported Q2 results before the open, and all easily beat analysts' consensus bottom-line expectations. It is negative, as 41 investors sold Huntsman Corporation shares while 125 reduced holdings. Ubs Asset Management Americas invested 0% in Summit Hotel Properties Inc (NYSE:INN). Lincoln Natl holds 15,532 shares or 0.05% of its portfolio. Ngam Advisors Lp owns 1.19M shares for 0.79% of their portfolio. Weik Svcs owns 97,241 shares or 3% of their United States portfolio. Nomura accumulated 884,136 shares. Lakeview Prtnrs Limited Liability holds 0.61% or 12,899 shares. Moreover, Kcg Inc has 0.01% invested in Finish Line Inc (NASDAQ:FINL). Connable Office invested in 0.8% or 63,241 shares. Hedge funds and other institutional investors own 75.92% of the company's stock.

Keep in mind to pay close attention to what bank CEOs say on their earnings calls, which should be available on company web sites if you missed the live broadcasts this morning. Legal & General Group Public Lc holds 0% or 71,442 shares. Additionally, though expenses remain elevated, the company plans $4 billion of cost cuts by 2019. It has a 22.39 P/E ratio. It operates through four business divisions: Rail North America, Rail International, American Steamship Company, and Portfolio Management. $951,698 worth of stock was sold by Ridd Brian V on Wednesday, January 25.

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