US regulator removes top examiner for Wells Fargo

Violet Tucker
April 8, 2017

Analysts have a mean recommendation of 2.70 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

WFC has been the topic of several other reports. Credit Suisse Group AG restated a "hold" rating and set a $56.00 price objective on shares of Wells Fargo & Co in a report on Friday, March 3rd. Finally, Robert W. Baird reiterated a "buy" rating and set a $58.00 target price on shares of Wells Fargo & Co in a research report on Tuesday, January 10th. Jefferies Group LLC reaffirmed a "hold" rating and issued a $62.00 target price on shares of Wells Fargo & Co in a research note on Wednesday.

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. The company has a market capitalization of $277.04 billion, a price-to-earnings ratio of 13.88 and a beta of 0.98. Over the same time span, the stock marked US$59.99 as its best level and the lowest price reached was US$43.55.

The 50 day moving average of Wells Fargo & Company (NYSE:WFC) is 57.49 whilst its 200 day moving average is 52.94.

Wells Fargo & Company said its donated over $4 million to various nonprofits in the state of Arizona a year ago. For the quarter, shares have been noted at 1.03%. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%.

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"With his previous experience in our Wholesale Banking businesses, and the insight and experience he has gained during his long tenure with the company, David is uniquely positioned to lead the business for continued growth in order to serve the commercial capital needs of our customers", said Blakey. The company's quarterly revenue was up.0% on a year-over-year basis.

Wells Fargo & Company (NYSE:WFC) is expected to post revenue of $22.87 Billion in the current quarter, according to consensus of 19 analysts.

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Want to see what other hedge funds are holding WFC? The shares were sold at an average price of $59.02, for a total transaction of $6,946,890.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Norges Bank acquired a new stake in shares of Wells Fargo & Co during the fourth quarter valued at $2,800,566,000. Community Bank N.A. raised its position in Wells Fargo & Co by 14.9% in the third quarter. The institutional investor purchased 213,367 shares of the financial services provider's stock, valued at approximately $11,759,000. Finally, Nisa Investment Advisors LLC increased its position in Wells Fargo & Co by 3.6% in the third quarter. CenturyLink Investment Management Co now owns 83,134 shares of the financial services provider's stock worth $3,681,000 after buying an additional 2,928 shares during the period. He has led sales, service, and operations groups in numerous company's Wholesale Banking businesses.

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