Wells Fargo Bruised on Q3 Numbers

by Ben Pena October 15, 2017, 0:16
Wells Fargo Bruised on Q3 Numbers

Opus Investment Management Inc. now owns 102,500 shares of the financial services provider's stock worth $5,680,000 after buying an additional 17,500 shares during the last quarter. The company's P/E (price to earnings) ratio is 13.61 and Forward P/E ratio of 12.54. The stock decreased 2.72% or $1.5 on October 13, reaching $53.69. Its position was valued at $53,373,491,000 a decrease of $1,563,923,000 as of the end of the quarter.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. It has underperformed by 7.03% the S&P500. 325.61 million shares or 1.09% less from 329.21 million shares in 2017Q1 were reported. Ferguson Wellman Capital Management Inc. grew its position in shares of Wells Fargo & by 774.6% during the first quarter. It closed at $20.1 lastly. Calpine Corporation (NYSE:CPN) has declined 5.37% since October 14, 2016 and is downtrending. It has underperformed by 16.70% the S&P500. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. It also reduced Union Pacific Corp (NYSE:UNP) stake by 12,751 shares and now owns 324,350 shares.

On Friday, Wells Fargo and Bank of America released Q3 2017 financial results. The stock of Wells Fargo & Co (NYSE:WFC) has "Buy" rating given on Thursday, July 27 by RBC Capital Markets. Therefore 50% are positive. Analysts reported that the Price Target for Wells Fargo & Company might touch $67 high while the Average Price Target and Low price Target is $58.12 and $35 respectively. Northland Capital maintained the stock with "Outperform" rating in Friday, November 6 report. About shares traded. Sequans Communications SA ADR (NYSE:SQNS) has risen 90.48% since October 13, 2016 and is uptrending. Argus Research maintained the stock with "Buy" rating in Tuesday, January 26 report. The stock of Wells Fargo & Co (NYSE:WFC) earned "Sell" rating by UBS on Thursday, March 24. Birch Hill Investment Advisors Llc sold 24,125 shares as Wells Fargo Co New (WFC)'s stock declined 8.66%. The company has an average rating of "Hold" and an average target price of $57.19. The rating was maintained by BMO Capital Markets on Wednesday, May 31 with "Sell". The company was maintained on Thursday, September 28 by Keefe Bruyette & Woods. Moreover, Osterweis Capital Mgmt Incorporated has 0.04% invested in Wells Fargo & Co (NYSE:WFC).

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Expenses have been a key issue for investors, and the bank has targeted a full-year ratio of 60% to 61% in 2017, aiming to improve to 55% to 59% next year. Its down 0.49, from 1.89 in 2017Q1. It increased, as 85 investors sold WFC shares while 685 reduced holdings. Ballentine Prtn Ltd Llc has 0.1% invested in Wells Fargo & Co (NYSE:WFC). Accredited Investors holds 0.23% or 16,075 shares in its portfolio. Barrow Hanley Mewhinney & Strauss Lc accumulated 34.57 million shares. Oregon Pub Employees Retirement Fund holds 473,792 shares or 0.45% of its portfolio. Jabre Capital Ptnrs Sa stated it has 1.14% of its portfolio in Wells Fargo & Co (NYSE:WFC). Accredited Investors has invested 0.23% in Wells Fargo & Co (NYSE:WFC). Kentucky-based Farmers Commercial Bank has invested 0.32% in Wells Fargo & Co (NYSE:WFC). Evercore upgraded Wells Fargo & Co (NYSE:WFC) on Tuesday, September 8 to "Buy" rating. Mitsubishi Ufj Trust & Banking holds 9.77M shares or 1.05% of its portfolio. SARGENT RONALD had bought 9,050 shares worth $499,108 on Friday, May 5. It also increased its holding in Alexandria Real Estate Eq In (NYSE:ARE) by 460,698 shares in the quarter, for a total of 8.81 million shares, and has risen its stake in Tyson Foods Inc (NYSE:TSN).

Investors sentiment decreased to 1.31 in Q2 2017.

Wells Fargo & Company is a bank holding company. Morgan Stanley and Merrill Lynch followed suit earlier this year. Winslow Asset Mgmt owns 155,365 shares. Fmr Limited Liability has invested 0% of its portfolio in TYSON FOODS INC TANGIBLE EQUITY UNIT 1 PREP (OTCMKTS:TYFDL). The California-based Willow Creek Wealth Management Inc. has invested 0.22% in the stock. Ahl Partners Llp owns 623,860 shares for 0.18% of their portfolio. Howe And Rusling reported 0% in Cray Inc. Credit Suisse Ag reported 22,454 shares. Its up 35.65% from 879,100 shares previously. Cibc World holds 898,942 shares.


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