What to Watch for as Wells Fargo and Other Banks Report Earnings

Wells Fargo Advisors continues to bleed reps

Wells Fargo Continues to Lose Advisors Amid Scandals

In related news, major shareholder City Of London Investment Grou acquired 98,196 shares of the firm's stock in a transaction dated Thursday, March 1st.

A Pennsylvania judge last week dismissed a request from Wells Fargo Insurance Services USA Inc.to stop a group of former brokers in Pittsburgh who joined rival EPIC Insurance Brokers & Consultants from soliciting business from their former clients.

A number of other institutional investors have also added to or reduced their stakes in WFC. The stock's price to sales ratio for trailing twelve months is 4.43 and price to book ratio for the most recent quarter is 1.40, whereas price to cash per share for the most recent quarter are 0.67. Ltd. boosted its stake in shares of Wells Fargo & Company by 2.2% in the second quarter.

In Wells Fargo & Co (WFC) was decreased the stake owned by Dmitry Balyasny. By selling 1.31M shares Balyasny Asset Management Llc made the stock sank with 16.98%.

WFC registered $292,234 net activity with 0 insider purchases and 1 insider sale since November 17, 2017. Finally, Saratoga Research & Investment Management acquired a new position in Wells Fargo in the third quarter valued at $178,000. New England Private Wealth Advisors LLC now owns 6,538 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 119 shares during the period.

WFC stock was down 3% as of Friday morning. WFC stock price revealed pessimistic move of -6.06% comparing average price of last 200 days. That exceeds last year's $5.46 billion ($1.03) in profit. The stock has a market capitalization of $256,667.41, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13.

Maddy and Ryan dig into each report and explain why higher trading revenues buoyed JPMorgan's and Citigroup's results, while Wells Fargo continues to face uncertainty over its fraudulent account scandal. One thing is for sure, investors looking for solid stocks to buy in front of earnings also may want to look for the best values in the sector. The lowest EPS estimate by analysts providing their input to Thomson Reuters is at $1.01 and the highest at $1.16. The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $21.74 billion. Susan Roth Katzke of Credit Suisse told clients that a quarter-over-quarter and year-over-year declines in revenue and weakness in mortgage banking would not be surprising.

The bank reported first-quarter earnings of $5.9 billion, or $1.12 per share, better than the 5.46 billion and $1.03 per share for the same period past year. By taking shares off the market, such buybacks can result in higher earnings per share for companies. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued. On Wednesday, January 3 Bernstein upgraded the shares of WFC in report to "Outperform" rating. Vident Advisory Ltd Liability Company reported 0.01% in Wells Fargo & Company (NYSE:WFC). Barclays increased their price target on shares of Wells Fargo from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, January 2nd.

A total of 23 analysts rate Wells Fargo (NYSE:WFC) as follows: 12 "Buy", 8 "Hold" and 3 "Sell".

Wells Fargo said in October that it would issue refunds to customers who paid fees to extend mortgage rate locks between September 16, 2013, through February 28, 2017, but "who believe they shouldn't have paid those fees".

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