Wells Fargo 3Q delivers an unwelcome surprise for investors

Posted October 14, 2017

110 funds opened positions while 566 raised stakes. This buyback authorization allows the financial services provider to purchase up to 4.2% of its shares through open market purchases. Pointstate Cap Ltd Partnership owns 3.92 million shares for 2.35% of their portfolio.

Wells Fargo & Co's Wealth and Investment Management division reported revenue of $4.25 billion in the third quarter of the year. Mark Sheptoff Finance Planning reported 0.27% of its portfolio in Wells Fargo & Co (NYSE:WFC). Investment Of Virginia Limited Liability Company accumulated 155,779 shares or 2.08% of the stock. Perpetual Ltd grew its holdings in shares of Wells Fargo & by 25.8% during the 2nd quarter.

Mad River Investors holds 0.23% of its portfolio in Pingtan Marine Enterprise Ltd for 49,769 shares. Gilman Hill Asset reported 8,810 shares. Exxonmobil Mgmt Inc Tx holds 0.06% or 85,197 shares. UBS maintained Wells Fargo & Co (NYSE:WFC) on Friday, October 6 with "Neutral" rating.

The San Francisco-based banking giant reported Q3 earnings per share (EPS) of $1.04, which was $0.01 better than the consensus of $1.03.

More notable recent Wells Fargo & Co (NYSE:WFC) news were published by: Bloomberg.com which released: "Wells Fargo Directors Can't Duck Claims Over Fake Accounts" on October 05, 2017, also Nytimes.com with their article: "Ohio Extends Ban on Wells Fargo Business by Six Months" published on October 12, 2017, Reuters.com published: "Wells Fargo posts fourth straight revenue miss on mortgage issues" on October 13, 2017. Gam Holdg Ag holds 1.33 million shares.

Since May 5, 2017, it had 1 buying transaction, and 3 insider sales for $3.93 million activity. The insider SARGENT RONALD bought 9,050 shares worth $499,108. Mack Mary T had sold 38,988 shares worth $2.05M. Hardison Hope A. had sold 20,000 shares worth $1.04 million on Tuesday, May 16. Considering that the stock daily volume of 15.07 million shares, this represents a pretty noteworthy trading in volume size. The stock rose 0.25% or $0.14 reaching $55.8. About 258,815 shares traded. Wells Fargo & Co (NYSE:WFC) has risen 9.67% since October 12, 2016 and is uptrending. It has underperformed by 7.03% the S&P500. Its investment was valued at $82,997,000 an increase of $398,000 according to the filing. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks' consensus estimate of $1.02 by $0.05.

The stock of Wells Fargo & Co (NYSE:WFC) earned "Neutral" rating by Susquehanna on Thursday, December 1. WFC's profit will be $5.23 billion for 13.19 P/E if the $1.05 EPS becomes a reality. 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%. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Therefore 70% are positive. Wells Fargo & Company had 96 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has "Hold" rating given on Friday, July 14 by Oppenheimer.

The top 5 institutional holders, in ascending order, are as follows: BERKSHIRE HATHAWAY INC with 467.99 million shares, VANGUARD GROUP INC with 314.76 million shares, BLACKROCK INC. with 271.25 million shares, STATE STREET CORP with 200.48 million shares, and FMR LLC with 129.81 million shares. The firm has "Buy" rating by Argus Research given on Tuesday, January 19. The stock has "Buy" rating by B. Riley & Co on Wednesday, October 26. As per Tuesday, August 8, the company rating was maintained by Raymond James.