Wells Fargo beats on earnings, misses on revenue

Earnings Scheduled For

These early reporters are also likely to give investors "confidence" in the financial system, which has been lacking for almost 10 years, Maley added.

Wells Fargo (NYSE:WFC) -1.7% premarket as Q2 earnings beat expectations but revenue came in on the light side. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider's stock worth $150,186,000 after buying an additional 41,531 shares in the last quarter.

Bremer Trust National Association decreased its stake in Wells Fargo & Co (WFC) by 33.1% based on its latest 2016Q4 regulatory filing with the SEC. Loomis Sayles And Ltd Partnership holds 0.4% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 2.98 million shares. Iberiabank Corp now owns 102,391 shares of the financial services provider's stock worth $5,643,000 after buying an additional 3,979 shares in the last quarter. Another trade for 38,988 shares valued at $2.05 million was sold by Mack Mary T. Shares for $1.04 million were sold by Hardison Hope A. Hedge funds and other institutional investors own 75.92% of the company's stock.

The stock increased 0.03% or $0.02 during the last trading session, reaching $61.3. Keefe Bruyette & Woods upgraded Wells Fargo & Co (NYSE:WFC) on Tuesday, January 12 to "Outperform" rating. The company has a 50-day moving average price of $53.07 and a 200 day moving average price of $55.18.

Sensex closes at record high, crosses 32000
The BSE market breadth was bearish with 1,701 declines and 996 advances. "Major Asian markets have ended on a positive note". On closing-basis, the NSE Nifty set a new high to settle at 9,891.70 points - up by 75.60 points, or 0.77 per cent.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Thursday, April 13th. After $1.00 actual earnings per share reported by Wells Fargo & Co for the previous quarter, Wall Street now forecasts 4.00% EPS growth. Wells Fargo & Co had a return on equity of 11.55% and a net margin of 25.22%. Shares dropped though past year after the bank agreed to a $185 million settlement with two regulators and a city official over opening as many as 2.1 million accounts with fictitious or unauthorized information. The company's quarterly revenue was down.9% on a year-over-year basis. If you are accessing this piece of content on another site, it was stolen and republished in violation of U.S. and global trademark & copyright legislation. As of the end of the quarter Fisher Asset Management, LLC had sold a total of 17,529,159 shares trimming its holdings by 96.2%. Moreover, recently approved the Financial Choice Act to eradicate a number of core financial regulations will act as a tailwind for the company in coming quarters. Buckingham Research reaffirmed a "neutral" rating and set a $62.00 price target (up from $60.00) on shares of Wells Fargo & Company in a research report on Monday. Wells Fargo & Company has an average rating of "Hold" and an average price target of $56.00. SELL rating has been given by 0 analyst (s) and 3 analyst (s) given BUY rating to the stock. JP Morgan downgraded Wells Fargo & Co (NYSE:WFC) on Wednesday, September 21 to "Neutral" rating. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Jefferies maintained it with "Hold" rating and $6200 target in Friday, July 7 report. Also, CEO Timothy J. Sloan bought 39,000 shares of the business's stock in a transaction dated Monday, April 17th.

Total average loans were $956.9 billion in the second quarter, down $6.8 billion (1%) from the first quarter.

Brighton Jones Llc decreased Wells Fargo (WFC) stake by 77.83% reported in 2016Q4 SEC filing. Kcm Invest Advsr Ltd Limited Liability Company owns 650,688 shares. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 106,392 shares of company stock worth $5,526,822 and have sold 231,278 shares worth $12,361,120. The biggest holder now is Timothy J. Sloan who owns 754,581 shares (0.02% of those outstanding), whilst Robert K. Steel holds 601,903 (0.01% of shares outstanding) and Mark C. Oman holds 496,621 (0.0099% of shares outstanding). Argus Research maintained Wells Fargo & Co (NYSE:WFC) on Tuesday, January 19 with "Buy" rating. The Firm is a diversified financial services company.

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