Wells Fargo earnings: $1.16 a share, vs $1.07 EPS estimate
20 January, 2018, 05:44
High Pointe Capital Mgmt Ltd Liability holds 2.66% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 32,990 shares. The stock increased 0.11% or $0.36 during the last trading session, reaching $336.72. Finally, Westside Investment Management Inc. raised its position in shares of Wells Fargo & Co by 63.9% in the 2nd quarter.
Eminence Capital Lp, which manages about $10.55 billion and $6.18B US Long portfolio, decreased its stake in Anthem Inc (NYSE:ANTM) by 12,632 shares to 746,231 shares, valued at $141.69M in 2017Q3, according to the filing. 103 funds opened positions while 495 raised stakes. However, 5.16% over the last one month, 17.82% for the last quarter and year to date performance stands at 3.49%. Grubman Wealth Management holds 0.17% or 4,408 shares in its portfolio.
Stock: Shares rose 0.5% to 110.84 on the stock market today, having advanced 16% in 17 weeks from a breakout past a 95.32 flat-base entry. Finally, West Coast Financial LLC acquired a new stake in shares of Wells Fargo & Co in the third quarter valued at approximately $1,412,000.
Diluted earnings per share of $0.97, excluding one-off items, compared with the consensus estimate by sell-side analysts of $1.06 a share.
Wells Fargo is considered a bellwether for the health of the industry because it is typically among the first of the large banks to report each quarter, along with Bank of America Corp. and JP Morgan Chase & Co. The stock of Wells Fargo & Company (NYSE:WFC) earned "Buy" rating by RBC Capital Markets on Thursday, June 22.
Wells Fargo reported a $3.35 billion after-tax benefit, or 67 cents per share, with a $3.89 billion estimated tax benefit from the reduction to net deferred income taxes. Moreover, Van Den Berg Management I has 3.77% invested in Wells Fargo & Company (NYSE:WFC). Macquarie reiterated an "underperform" rating on shares of Wells Fargo & Company in a report on Tuesday, October 18th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company's stock. The stock of Wells Fargo & Company (NYSE:WFC) has "Sell" rating given on Tuesday, August 8 by Raymond James.
The stock decreased 0.17% or $0.11 during the last trading session, reaching $63.01. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $58.02. The company has a 50 day moving average of $55.34 and a 200-day moving average of $50.07.
Institutions own 76.40% of Wells Fargo & Company (WFC)'s shares. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Bnp Paribas Arbitrage Sa holds 0.85% or 3.53 million shares. Investors didn't hesitate to send shares in the largest USA bank by assets to their first record high of the New Year. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
On 11/30/2017 Richard Levy, VP, sold 97,000 with an average share price of $56.47 per share and the total transaction amounting to $5,477,590.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,482 shares of company stock worth $10,471,050.
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It's important for shareholders to know that some of the efforts to transform Wells Fargo's culture and make it more consumer-friendly will certainly cost the bank some profit potential. The Company's Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
"The progress we made over the past year was evident in the fourth quarter in higher deposits, loan growth particularly in commercial loans, increased debit and credit card transactions, and record client assets under management in Wealth and Investment Management." added Sloan. It worsened, as 92 investors sold WFC shares while 725 reduced holdings.
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