Wells Fargo & Co (NYSE:WFC) stock took a hit today on poor results in its earnings report for the third quarter of 2017. Analysts polled by Thomson Reuters had expected earnings of $1.03 a share. More interesting news about Wells Fargo & Co (NYSE:WFC) were released by: Reuters.com and their article: "Wells Fargo's lone outsider aims to clean up bank's reputation" published on September 20, 2017 as well as Bloomberg.com's news article titled: "Wells Fargo CEO "Can't Promise" New Reviews Won't Find Issues" with publication date: September 12, 2017. These analysts have also projected a Low Estimate of $0.95/share and a High Estimate of $1.07/share. The Return on Equity (ROE) value stands at 11.6%. The business had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $22.23 billion. Moreover, Dekabank Deutsche Girozentrale has 0.84% invested in Wells Fargo & Co (NYSE:WFC). Raymond James & Associates who had been investing in Caterpillar Inc Del for a number of months, seems to be bullish on the $75.59 billion market cap company. Checking some other stock price data, we can see that the recent distance from the 50 day high was noted at -4.24% and the separation from the 50 day low is presently 8.39%. Wells Fargo & Company has a 52 week low of $44.32 and a 52 week high of $59.99.
Wells Fargo & announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. Brandywine Global Investment Mngmt Ltd Liability Com holds 4.53 million shares.
Several analysts pressed executives about how the bank can resume stronger growth, given various regulatory issues. Instinet restated a "buy" rating and set a $64.00 price objective on shares of Wells Fargo & in a report on Wednesday, July 12th. The Eastern Bank holds 317,580 shares with $17.60 million value, down from 328,461 last quarter. The stock of Wells Fargo & Co (NYSE:WFC) has "Hold" rating given on Friday, July 7 by Jefferies. Wells Fargo third-quarter net tumbled 19% to $4.6 billion.
Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. The stock presently has an average rating of "Hold" and a consensus target price of $57.19. Berkshire Asset Management Llc bought 16,135 shares as the company's stock declined 8.66% while stock markets rallied. Buckhead Limited Liability Corporation holds 1.24% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 123,206 shares. During the same period previous year, the firm posted $1.01 earnings per share. BB&T and PNC Bank rank second and third in market share, with both holding about 12 percent of deposits, according to the FDIC.
Addenda Capital Inc. augmented its position by buying 7,690 shares an increase of 5.0% as of 09/30/2017. Expenses as a share of revenue in the third quarter was 65.5%, again driven by the $1 billion litigation accrual.
Looking at a public company's insider trading can give great insight into how the stock is performing. Finally, Intl Fcstone Inc. purchased a new stake in shares of Wells Fargo & during the 2nd quarter worth about $2,497,000. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & worldwide trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/13/wells-fargo-company-wfc-stake-lowered-by-first-western-capital-management-co.html. Robert W. Baird maintained Wells Fargo & Co (NYSE:WFC) on Friday, October 6 with "Buy" rating. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.