Long Term Growth review of Wells Fargo & Company (NYSE:WFC)

Saturday, 14 Oct, 2017

Wells Fargo & Company (NYSE:WFC)'s earnings is on the doorstep as the firm is set to report on 10/13/2017 8:30:00 AM.

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

Wells Fargo reported flat or lower revenues in many key consumer banking segments in the aftermath of a fake accounts scandal that led to a shakeup of company leadership and numerous government probes and lawsuits. The company's revenue was up.2% compared to the same quarter previous year.

"Over the past year we have made fundamental changes to transform Wells Fargo as part of our effort to rebuild trust and build a better bank", said chief executive Tim Sloan. We saw total average deposit growth; loan growth in our residential mortgage, credit card and subscription finance portfolios; as well as higher assets under management in Wealth and Investment Management. On average, analysts expect Wells Fargo & to post $4.14 EPS for the current fiscal year and $4.40 EPS for the next fiscal year. It also reduced its holding in Newmont Mining Corp (NYSE:NEM) by 675,498 shares in the quarter, leaving it with 349,265 shares, and cut its stake in Comcast Corp Prop (NASDAQ:CMCSA). Longview Partners Guernsey LTD lifted its position in shares of Wells Fargo & by 5.3% in the second quarter. Wells Fargo & Company (NYSE:WFC) shares have been recently spotted -7.91% away from the 52-week high, and 24.76% away from the 52-week low mark.

Wells Fargo & Company (WFC) now the company's industry has 13.86 P/E and the sector P/E is 16.24. The company has a 50-day moving average price of $52.98 and a 200 day moving average price of $53.58. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider's stock worth $1,653,464,000 after purchasing an additional 6,291,906 shares during the last quarter.

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Overall net income results are down as well, with the bank's net income for Q3 2017 at $4.6 billion, or $0.84 per diluted common share, compared with $5.6 billion, or $1.03 per share, for Q3 2016, and $5.8 billion, or $1.07 per share, for Q2 2017.

Additionally, mortgage banking noninterest income declined to $1 billion, compared with $1.1 billion in Q2 2017. Nomura Holdings Inc who had been investing in Kansas City Southern for a number of months, seems to be bullish on the $11.07 billion market cap company. Seven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company.

When it comes to the Analysis of a Stock, Price Target plays a vital role. Berkshire Asset Management Llc who had been investing in Wells Fargo for a number of months, seems to be bullish on the $265.57 billion market cap company. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued. If you are accessing this piece on another website, it was illegally stolen and republished in violation of worldwide trademark & copyright laws. Brick & Kyle Associates boosted its stake in shares of Wells Fargo & by 9.5% in the 1st quarter. About 5.48 million shares traded. Wells Fargo was already dethroned as the world's most valuable bank after the scandal hit, but now it is slipping further behind. The stock has "Outperform" rating by Evercore on Wednesday, April 12. 38,988 Wells Fargo & Co (NYSE:WFC) shares with value of $2.05M were sold by Mack Mary T.

WFC stock was down 3% as of Friday afternoon and is down 3% year-to-date. 229,306 are owned by Jones Financial Companies Lllp.