Wells Fargo could pay $1 billion to settle federal probes

Wells Fargo could pay $1 billion to settle federal probes

Wells Fargo could pay $1 billion to settle federal probes

The brokerage now has a $54.10 price objective on the financial services provider's stock. Foster Dykema Cabot & Co Inc who had been investing in Wells Fargo & Company for a number of months, seems to be less bullish one the $256.97B market cap company. Zacks Investment Research cut Wells Fargo from a "hold" rating to a "sell" rating in a report on Monday. Keefe, Bruyette & Woods reiterated a "hold" rating and set a $57.00 price objective on shares of Wells Fargo in a report on Thursday, April 5th.

Wells Fargo & Co WFC.N believes the USA government, rather than banks, should set rules to promote gun safety, its finance chief said on Friday. They noted that the move was a valuation call. Analysts reported that the Price Target for Wells Fargo & Company might touch $75 high while the Average Price Target and Low price Target is $63.64 and $45 respectively. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The correct version of this piece can be read at https://stocknewstimes.com/2018/04/13/independence-bank-of-kentucky-invests-2-02-million-in-wells-fargo-wfc-stock.html. The Wells Fargo & Company has 5.02B shares outstanding with 79.58% insider ownership. The company had a trading volume of 19,091,232 shares, compared to its average volume of 22,646,732. The stock has a market capitalization of $256,667.41, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.38 and a beta of 1.13. Wells Fargo & Company's dividend payout ratio (DPR) is now 38.10%. Stocks opened higher this morning before turning mixed. Wells Fargo & Company had a net margin of 23.30% and a return on equity of 12.60%. Those results show profit of $5.9 billion, compared with $5.6 billion for the same quarter previous year. The WFC has a wide variety of figures for various time frames, commencing from week's performance it advances on positive ratio of -1.05% during the last five regular trading sessions.

The financial services provider reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.05, RTT News reports. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued. Hence, it offers a significant benefit for short-term trader, since it stimulates the price more confidentially, and as a result, it produces less delay as compared to the long-term moving average. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Summit Strategies owns 3,448 shs or 0.11% of their USA capital.

Other large investors also recently bought and sold shares of the company.

Wells Fargo & Co. confirmed industry and analyst speculation Friday that its two federal regulators want the bank to pay up to $1 billion in civil penalties to resolve multi-layered customer account issues. Highland Private Wealth Management now owns 4,481 shares of the financial services provider's stock worth $248,000 after purchasing an additional 43 shares during the period.

Wells Fargo's CEO Tim Sloane said the bank had already closed 58 branches in the first quarter and will close a total of 300 this year. Last trading transaction put the stock price at $51.93. The firm purchased 33,360 shares of the financial services provider's stock, valued at approximately $2,024,000. Inc. now owns 122,556 shares of the financial services provider's stock valued at $5,427,000 after buying an additional 2,052 shares during the period. Meridian Investment Counsel Inc. now owns 17,895 shares of the financial services provider's stock worth $992,000 after purchasing an additional 200 shares during the period. By taking shares off the market, such buybacks can result in higher earnings per share for companies.

Wells Fargo (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th.

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