IFC Holdings Incorporated FL Purchases 12906 Shares of Wells Fargo

IFC Holdings Incorporated FL Purchases 12906 Shares of Wells Fargo

The Wall Street Journal, citing this month people familiar with the integration plans, reported the effort is created to reduce costs and enable Wells to better serve clients. Janus Henderson Group PLC raised its holdings in shares of Wells Fargo by 396.3% during the second quarter.

"I'm confident that our outstanding team will continue to transform Wells Fargo into a better, stronger company; however, we recognise that it will take time to put all of our challenges behind us", Sloan said in the bank's first-quarter results statement today. Thomaspartners Inc. now owns 4,069,225 shares of the financial services provider's stock worth $192,596,000 after buying an additional 1,663,121 shares during the last quarter. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. Delphi Private Advisors LLC grew its position in shares of Wells Fargo by 439.9% during the fourth quarter.

American finance watchdogs have told Wells Fargo to pay $1 billion to settle allegations that it mis-sold mortgages and auto insurance. The firm has a market capitalization of $253,301.77, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.37 and a beta of 1.13.

In preliminary results reported Friday, Wells said it posted a first-quarter profit of $5.9 billion, up about 6 percent from $5.6 billion in the same quarter previous year. Instinet reissued a "buy" rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 11th. The rating was maintained by Keefe Bruyette & Woods with "Buy" on Thursday, September 28.

The massive penalty that is expected to be levied on Wells follows the Federal Reserve Board's decision in February to impose an the asset cap on the $1.92 trillion-asset bank.

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"Operationally, Wells Fargo can recover, but reputationally and how a billion dollars will weigh on them-only time can tell", Art Hogan, chief market strategist at financial services firm B. Riley, told Reuters. Citigroup reported a profit of $4.62 billion, or $1.68 a share, compared with a profit of $4.1 billion, or $1.35 per share, in the same period a year earlier. The company presently has a consensus rating of "Hold" and an average price target of $62.49. The stock has a 50-day moving average of $55.56 and a 200-day moving average of $50.51.

Total revenue in the quarter fell 1.4 percent to $21.93 billion. Crowd sentiment on the stock today is mixed to positive, with 57.1 percent of users giving the stock a Buy rating, 14.3 percent a Hold and 28.9 percent a Sell. The unit's revenue declined 2 percent sequentially to $4.2 billion due to lower gains on deferred compensation plan investments, lower net interest income and lower transaction revenue. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Finally, Zacks Investment Research lowered shares of Wells Fargo & Company from a "buy" rating to a "hold" rating in a research report on Monday.

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Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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