Hexavest Inc Increased Wells Fargo & Co (NYSE:WFC) Stake by $10.54 Million

5 Things to Watch in Wells Fargo's Results

Indirect loan net charge-offs were up 49% during the quarter to $198 million, largely driven by a "moratorium" on the repossession of borrowers vehicles who have been impacted by the bank's forced-insurance policy, according to Wells Fargo's earnings report.

Analysts had forecast earnings of $1.03 per share and revenue of $22.4 billion, according to Thomson Reuters I/B/E/S.

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. As a result, auto outstandings dropped 12% year over year to $55.5 billion in the third quarter.

Smith Chas P & Associates Pa Cpas increased Wells Fargo & Co Del Com (WFC) stake by 5.56% reported in 2017Q2 SEC filing. Brick & Kyle Associates now owns 1,859 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. 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.

Among 16 analysts covering FirstEnergy (NYSE:FE), 5 have Buy rating, 1 Sell and 10 Hold. These analysts have also projected a Low Estimate of $0.95/share and a High Estimate of $1.07/share. Year-to-date, WFC has gained 2.31%, versus a 15.54% rise in the benchmark S&P 500 index during the same period. Clear Harbor Asset Management Ltd Llc, a New York-based fund reported 5,517 shares. 24,708 Wells Fargo & Co (NYSE:WFC) shares with value of $1.34M were sold by Pelos Petros G. Shares for $1.04M were sold by Hardison Hope A. SARGENT RONALD had bought 9,050 shares worth $499,108.

Sky investors back reappointment of chairman James Murdoch
The committee includes Mr Gilbert, Jeremy Darroch , Sky's chief executive and Andrew Griffith, Sky's chief operating officer. Game of Thrones helped Sky increase customer numbers by 51 per cent in the first quarter, as revenue and earnings also grew.

Wells Fargo & Company (WFC) now the company's industry has 13.86 P/E and the sector P/E is 16.24. The company's 50 day moving average is $52.89 and its 200-day moving average is $53.57. Mortgage banking fees tumbled for the fifth straight quarter to $1.05 billion as demand from homeowners for refinancing continued to wane amid rising interest rates.

The pre-crisis mortgage problems are in addition to Wells Fargo's other scandals, notably the fake account fiasco that left the bank in turmoil for the past year.

Beta is also an important valuation ratio for analyzing the stock of the company, WFC has its industry and Sector's beta remains at 0.9 and 0.77 respectively. Sell-side analysts have also provided a consensus recommendation of 2.60 on company shares. The brokerage now has a $65.00 target price on the financial services provider's stock, up from their previous target price of $60.00. For the most recent quarter, quick ratio was -, current ratio was -, LT Debt/Equity ratio was 1.33 and Total Debt/Equity ratio stands at 1.33, while Payout ratio is 37.10%. Westside Investment Management Inc. boosted its stake in shares of Wells Fargo & by 63.9% in the 2nd quarter.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. Beck Mack & Oliver Ltd holds 0.19% in Wells Fargo & Co (NYSE:WFC) or 99,164 shares. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Wells Fargo & by 0.7% in the first quarter. If you are reading this piece on another site, it was stolen and republished in violation of global trademark and copyright law. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued. On Monday, July 31 the stock rating was upgraded by Tigress Financial to "Buy". For the past 5 days of trading, the stock has seen a move of 1.27%.

Wells Fargo & Company is a bank holding company. 229,306 are owned by Jones Financial Companies Lllp.

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