Wells Fargo's good results could be tempered by $1bn settlement

Wells Fargo's good results could be tempered by $1bn settlement

The stock of Wells Fargo & Company (NYSE:WFC) earned "Buy" rating by RBC Capital Markets on Thursday, June 22.

Net income applicable to common stock rose to $5.53 billion, or $1.12 per share in the quarter ended March 31, from $5.23 billion, or $1.03 per share a year ago.

The largest mortgage lender in the US had revenue of $21.9 billion, compared with $22 billion in the first quarter of 2017.

The company's revenue for the quarter fell 1.5% to USD21.93 billion from USD22.26 billion past year.

Total loans slipped 1.2% to $947.3 billion, hurt most by a decline in average loans in its community banking unit, which includes consumer banking, the area most closely tied to the sales practices scandal.

Wells Fargo (NYSE:WFC) last posted its earnings results on Friday, April 13th. The stock has a market cap of $283.06 billion, a PE ratio of 14.14 and a beta of 0.98. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Agf invested 0.27% of its capital in Wells Fargo & Company (NYSE:WFC).

Analysts often provide buy/sell/hold recommendations for companies that they cover.

Wells Fargo (NYSE:WFC) was upgraded by investment analysts at Vetr from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday, April 5th.

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Among 22 analysts covering Wells Fargo (NYSE:WFC), 12 have Buy rating, 3 Sell and 7 Hold. Sandler O'Neill upgraded Wells Fargo from a "hold" rating to a "buy" rating and raised their target price for the company from $62.04 to $73.00 in a research report on Tuesday, January 9th. Out of all the analysts providing ratings, 9 have rated the stock a Strong Buy or Buy, according to Zacks Research.

Wells Fargo's better-than-expected results could be short-lived.

Emerging-markets stocks are outperforming their USA counterparts this year, the latest sign that investors' appetite for risk remains robust despite rising trade tensions, according to Wsj. The shares were acquired at an average price of $55.98 per share, with a total value of $503,820.00. Following the acquisition, the director now owns 81 shares in the company, valued at $4,534.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

A number of hedge funds and other institutional investors have recently made changes to their positions in WFC. Shares of the company have performed -16.51% over the last quarter and moved -2.70% over the last twelve months.

Execution Review: Taking an investigate the execution of WFC stock, a financial specialist will come to realize that the week by week execution for this stock is esteemed at -1.85%, bringing about a performance for the month at -10.5%. Finally, Meridian Investment Counsel Inc. increased its stake in shares of Wells Fargo by 1.1% in the second quarter.

Monetary Management Group Inc, which manages about $313.72 million and $248.14 million US Long portfolio, upped its stake in Harris Corp (NYSE:HRS) by 13,845 shares to 18,520 shares, valued at $2.62 million in 2017Q4, according to the filing. Schneider Capital Management Corp purchased a new stake in shares of Wells Fargo in the 2nd quarter valued at approximately $17,007,000. The company reported the earnings of $0.97/Share in the last quarter where the estimated EPS by analysts was $1.07/share. Mckinley Carter Wealth has invested 0.11% in Wells Fargo & Company (NYSE:WFC). Ltd. now owns 736,538 shares of the financial services provider's stock valued at $34,860,000 after buying an additional 15,645 shares during the period.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by registrarjournal.com and is owned by of registrarjournal.com.

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