News Worms
News Worms

Wells Fargo & Co (WFC) Stock Falls on Q3 Revenue Miss

Wells Fargo & Co (WFC) Stock Falls on Q3 Revenue Miss

On Friday, Wells Fargo and Bank of America released Q3 2017 financial results.

"We are waiting for the quarter that Wells shows stronger momentum across the business and this was not the quarter", analysts from Keefe, Bruyette & Woods said in a client note.

ARM interest rates in the 5 year category at Wells Fargo are being quoted at 3.375% and an April of 3.445%. Uss Inv Mgmt Ltd reported 6.36M shares.

Mad River Investors holds 0.23% of its portfolio in Pingtan Marine Enterprise Ltd for 49,769 shares. Investment Of Virginia Limited Liability Company accumulated 155,779 shares or 2.08% of the stock. Dnb Asset As holds 0% or 504,918 shares. Rnc Cap Mngmt Ltd Company owns 851,721 shares or 3.65% of their United States portfolio. Livforsakringsbolaget Skandia Omsesidigt owns 21,922 shares. Ls Invest Advisors Limited Com has invested 0.74% of its portfolio in Wells Fargo & Co (NYSE:WFC). Tci Wealth Advsr reported 50 shares. The stock of Wells Fargo & Co (NYSE:WFC) has "Buy" rating given on Wednesday, September 2 by Sandler O'Neill. Lynch And In stated it has 2.56% of its portfolio in Wells Fargo & Co (NYSE:WFC). Mack Mary T sold $2.05M worth of stock. Shares slumped 3.6 percent to $53.22 at 9:54 NY.

Gardner Russo & Gardner Llc decreased Wells Fargo (WFC) stake by 7.36% reported in 2017Q2 SEC filing. Institutional investors own 75.12% of the company's stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Wells Fargo & by 0.7% in the first quarter. The stock increased 0.07% or $0.04 during the last trading session, reaching $55.66. About 416,881 shares traded.

While looking at the Stock's Performance, Wells Fargo & Company now shows a Weekly Performance of -0.32%, where Monthly Performance is 7.29%, Quarterly performance is 0.4%, 6 Months performance is 7.52% and yearly performance percentage is 21.82%. It has underperformed by 7.03% the S&P500. About shares traded. Wells Fargo & Co (NYSE:WFC) has risen 9.67% since October 13, 2016 and is uptrending.

Wells Fargo & Company (WFC) now the company's industry has 13.86 P/E and the sector P/E is 16.24.

Wells Fargo's third-quarter profits dropped 18 percent, caused by a significant increase in the bank's legal expenses tied to its mortgage practices before the financial crisis. PG's profit will be $2.73B for 21.33 P/E if the $1.07 EPS becomes a reality.

Wells Fargo & Co's earnings per share for the third quarter of 2017 also didn't do WFC stock any favors today.

The firm has paid or set aside more than $600 million for expenses tied to the sales scandal, and said it will give $80 million to wronged auto customers.

Following trading activity for Wells Fargo & Company (NYSE:WFC), we can see that the stock has moved onto today's list of most actives.

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. Therefore 38% are positive. Wells Fargo & Company has a 52 week low of $44.32 and a 52 week high of $59.99. RBC Capital Markets maintained the stock with "Hold" rating in Wednesday, July 26 report.

Wells Fargo & Company is a bank holding company. RBC Capital Markets has "Buy" rating and $6000 target. Goldman Sachs Group, Inc.

5 year sales growth rate is an important factor for valuation analysis, the industry's and the sector's growth for next 5 years ticked at -2.36 and -8.01 respectively. As per Thursday, September 14, the company rating was maintained by BMO Capital Markets. The firm earned "Sell" rating on Thursday, September 24 by Axiom Capital. Empire Company Limited had 41 analyst reports since September 10, 2015 according to SRatingsIntel.

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