The Leavell Investment Management Inc. Reduces Position in Wells Fargo & Company

The Leavell Investment Management Inc. Reduces Position in Wells Fargo & Company

The stock of Wells Fargo & Co (NYSE:WFC) has "Underperform" rating given on Friday, September 25 by Macquarie Research. Concorde Asset Management LLC now owns 5,845 shares of the financial services provider's stock worth $325,000 after buying an additional 1,057 shares during the last quarter.

Costs at Wells Fargo increased 5.2% to US$13.5bn from US$12.9bn in the second quarter of 2016 and expenses as a share of revenue in the second quarter were 61.1%, slightly above the new target of 60% to 61% set at an investor presentation in May. Deutsche Bank AG reissued a "buy" rating on shares of Wells Fargo & Company in a report on Monday, July 3rd. Argus Research maintained Wells Fargo & Co (NYSE:WFC) on Tuesday, January 19 with "Buy" rating.

Zacks presents analysts with an ABR (Average Broker Rating), based on the sell-side recommendations. The stock of Wells Fargo & Co (NYSE:WFC) has "Sell" rating given on Thursday, March 24 by UBS. Analysts have placed a $57.67 price target on Wells Fargo & Company, suggesting a 3.72% gain from recent close. Bristol John W & Company Inc acquired 494,800 shares as Wells Fargo & Co New (WFC)'s stock declined 8.66%.

Since the beginning of the calendar year, the stock is 0.89%. The firm shows a 20-Day Simple Moving Average of -0.10% with a 200-Day Simple Moving Average of 1.85%. The stock has a market capitalization of $274.80 billion, a price-to-earnings ratio of 13.75 and a beta of 0.96. Eventually, Wells Fargo & Company Money Center Banks exhibits an EPS value of 8.33% for the next five years.

In this Thursday, April 13, 2017, photo, a man uses a Wells Fargo ATM in Charlotte, N.C. Wells Fargo & Co. reports earnings, Friday, July 14, 2017. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.06.

In June, Warren wrote a letter to the central bank calling for it to remove 12 members of the Wells Fargo Board of Directors.




Net income in the quarter soared 13% to $7 billion or $1.82 per diluted share from $6.2 billion or $1.55 in the same quarter previous year. Annual EPS Growth of past 5 years is 0.10%. According to Thomson Reuters, sell-side analysts are predicting a consensus target price of $58.19 on company stock.

Under questioning by Democratic Senator Elizabeth Warren of MA about the bank's creation of millions of fake accounts, Yellen said she would not comment on details of the Fed's supervision of Wells Fargo. If you are reading this piece of content on another domain, it was stolen and reposted in violation of U.S. & global trademark & copyright laws. Piper Jaffray downgraded the shares of WFC in report on Friday, April 15 to "Underweight" rating. About 2.95 million shares traded. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Ashfield Capital Partners Ltd Llc owns 109,030 shares. The shares were sold at an average price of $54.21, for a total transaction of $5,421,000.00. The disclosure for this sale can be found here. Moreover, Trexquant LP has 0.28% invested in Wells Fargo & Co (NYSE:WFC) for 32,100 shares. The institutional investor owned 202,879 shares of the financial services provider's stock after buying an additional 105 shares during the period. The Associated Banc-Corp holds 382,746 shares with $21.09M value, down from 430,283 last quarter.

TRADEMARK VIOLATION WARNING: "Wells Fargo & Company (NYSE:WFC) Shares Bought by Concorde Asset Management LLC" was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Wells Fargo & Company by 3.0% in the first quarter. CARROLL DAVID M sold $6.95M worth of stock or 117,704 shares.

Wells Fargo & Company is a bank holding company.

Cross-selling, which has been the company's major strength in recent years, drew regulators' attention as they discovered that thousands of bank employees were unlawfully enrolling consumers for products and services without their knowledge or consent, in order to receive incentives for meeting the sales targets.

Last year, the bank agreed to a US$185mln settlement with two regulators and a city official over opening as many as 2.1 mln accounts with fictitious or unauthorised information.

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