Wells Fargo loses millions

Marco Green
July 18, 2017

Wells Fargo recently announced it would pay $142 million to settle a class-action lawsuit over its practice of creating fake accounts and credit cards for customers without their knowledge. It has outperformed by 71.09% the S&P500.

Investors sentiment decreased to 0.93 in 2016 Q4. Deutsche National Bank & Trust Ag invested in 9.46M shares or 0.42% of the stock. Vigilant Mgmt Ltd Liability Company invested in 0.03% or 2,822 shares. Ami Inv Mgmt Incorporated, Indiana-based fund reported 149,311 shares. It is positive, as 66 investors sold MRK shares while 603 reduced holdings. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider's stock worth $102,000 after buying an additional 1,000 shares during the period.

Since March 3, 2017, it had 1 insider purchase, and 7 insider sales for $397.31 million activity. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. First Western Management Com reported 19,761 shares. Blackrock Fund Advisors holds 0.01% of its portfolio in RH (NYSE:RH) for 2.31M shares. Nomura maintained Wells Fargo & Co (NYSE:WFC) rating on Monday, April 25. For the half year, Wells Fargo & Company has seen performance at 0.90%. Investors of record on Wednesday, June 14th were issued a dividend of $0.1648 per share. Moreover, Sonata Group has 0.31% invested in Wells Fargo & Co (NYSE:WFC). Shares for $1.04M were sold by Loughlin Michael J on Tuesday, March 21. (NYSE:MRK). Stone Run Cap has 5,939 shares for 0.23% of their portfolio. Jane Street Gru Limited Com reported 0.01% of its portfolio in RH (NYSE:RH).

Wells Fargo Global Dividend Oppty Fund earned a media sentiment score of 0.39 on Accern's scale. Tarbox Grp Incorporated has invested 0.11% of its portfolio in Merck & Co., Inc.

State Board Of Administration Of Florida Retirement System increased Union Pac Corp (NYSE:UNP) stake by 9,021 shares to 1.22M valued at $126.61 million in 2016Q4. It is negative, as 112 investors sold WFC shares while 836 reduced holdings. Hikari Ltd has invested 13.95% of its portfolio in Wells Fargo & Co (NYSE:WFC). Schroder Invest Grp holds 0% of its portfolio in Guess?, Inc. Asset Management One Co. Fil reported 0% in RH (NYSE:RH). 117,704 shares were sold by CARROLL DAVID M, worth $6.95 million. First Merchants has 0.12% invested in Wells Fargo & Co (NYSE:WFC).

The Financial Times reported that Wells Fargo will be spinning off a number of its products "worth hundreds of millions of dollars", according to CFO John Shrewsberry, in order to focus on and emphasize "more relevant" ones, though he did not specify what products those would be. They expect $0.21 earnings per share, up 5.00% or $0.01 from last year's $0.2 per share. Mack Mary T sold 38,988 shares worth $2.05 million. WFC's profit will be $5.14 billion for 13.22 P/E if the $1.04 EPS becomes a reality. Bedrijfstakpensioenfonds Voor De Media Pno reported 495,300 shares.

Macguire Cheswick & Tuttle Investment Counsel LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The following values ideally want to be as low as possible; PEG is 1.72, P/S is 5.06, P/B is 1.53, P/cash is 0.75 and finally P/Free cash flow is *TBA. The company was downgraded on Monday, April 11 by Sandler O'Neill. Pictet Cie (Europe) Sa reported 1.04% stake.

In related news, major shareholder Saba Capital Management, L.P. sold 53,300 shares of the firm's stock in a transaction that occurred on Thursday, May 4th. The firm has "Neutral" rating given on Thursday, December 1 by Susquehanna. Piper Jaffray initiated the shares of WFC in report on Tuesday, November 24 with "Neutral" rating. Pine River Ltd Partnership stated it has 9,422 shares. (NYSE:SRI). Pennsylvania-based Vanguard Gru has invested 0% in Stoneridge, Inc.

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