America's biggest bank earned $1.71 per share, or $6.73 billion.
Barclays PLC reiterated their buy rating on shares of Wells Fargo & Company (NYSE:WFC) in a research report report published on Tuesday morning.
Wells Fargo & Co closed down -0.3 points or -0.55% at $54.5 with 2,05,66,603 shares getting traded on Thursday. Wells Fargo has 42 branches in the four-county Allentown-Bethlehem-Easton metropolitan statistical area and has a market share of almost 20.2 percent as of June 30. Revenue came in at $21.58 billion, also short of the expected $22.451 billion.
The lender, whose branch system is bigger than any other USA bank's, said on its fourth-quarter earnings call that those closures came amid a growing consumer preference for doing banking online and over their smartphones.
The slide below gives a retail banking sales practices remediation plan update from Wells Fargo's earnings quarterly supplement. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of global trademark & copyright legislation. The original version of this piece can be accessed at https://sportsperspectives.com/2017/01/13/fy2016-eps-estimates-for-wells-fargo-company-wfc-decreased-by-analyst/.
Several other analysts have also issued reports on WFC.
UBS Securities noted a target price of 58 on Wells Fargo & Company's shares. Moreover, Prudential Fincl Incorporated has 0.75% invested in Wells Fargo & Co (NYSE:WFC) for 10.28M shares. Citigroup Inc. cut shares of Wells Fargo & Company to an underperform rating in a research report on Friday, November 18th.
Wells Fargo is viewed as a great read on the pulse of the American economy since 97% of its revenue comes from the U.S, meaning investors will be paying close attention to the bank's mortgage business.
Arizona trooper shot in ambush attack; Good Samaritan kills gunman
It happened while the trooper was investigating a rollover crash with shots fired where a woman was thrown from the vehicle. DPS also says a prisoner that was with the trooper at the time was also injured, but not seriously.
The DOJ investigation into the possibility that airlines colluded to keep ticket prices high came on the heels of comments by American Airlines Chairman and CEO Doug Parker and other airline chiefs about what they saw as a need for the airline industry to avoid increasing flight capacity in order to protect profits.
JPMorgan shares edged higher on the news, but BofA saw its price fall in premarket trading. The company has a market capitalization of $273.72 billion, a P/E ratio of 13.52 and a beta of 0.99. The firm has a 50-day moving average of $55.02 and a 200-day moving average of $49.32. 15,095,516 shares of the stock were exchanged. River & Mercantile Asset Management LLP increased its position in shares of Wells Fargo & Company by 83.0% in the second quarter. For the current quarter the company has highest EPS estimates of $1.04 and low forecast is $0.97.
A Wells Fargo bank branch in NY on January 11, 2017.
JPMorgan stock jumped 1% to $87.11 on today's open after reporting Q4 2016 results that comfortably beat expectations.
Wells Fargo & Company has 5,022,303,000 shares outstanding at the moment which are trading around 54.16 bringing Wells Fargo & Company's market capitalisation to 271.98B Dollars.
French prosecutors said they opened a probe against Renault on suspicion of emissions fraud, sending shares of the French auto company down 1.5%. Annex Advisory Services LLC now owns 6,422 shares of the financial services provider's stock valued at $304,000 after buying an additional 25 shares during the period.
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