This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases.
A number of other research firms have also issued reports on WFC. Private Wealth Advsr Incorporated holds 0.48% in Wells Fargo & Company (NYSE:WFC) or 20,448 shares. Argus downgraded shares of Wells Fargo & Company from a "buy" rating to a "hold" rating and boosted their price objective for the company from $53.00 to $53.78 in a report on Wednesday, January 18th. Nomura maintained Wells Fargo & Company (NYSE:WFC) on Monday, February 5 with "Buy" rating. Raymond James maintained Wells Fargo & Company (NYSE:WFC) on Tuesday, August 8 with "Sell" rating. They noted that the move was a valuation call. The company was downgraded on Thursday, March 10 by Robert W. Baird. The company presently has a consensus rating of "Hold" and an average target price of $61.79.
WFC opened at $50.89 on Wednesday. The firm has "Buy" rating by RBC Capital Markets given on Friday, September 29. Wells Fargo has a one year low of $49.27 and a one year high of $66.31.
Russian Federation condemns US-led strikes, calls emergency United Nations meeting on Syria
US President Donald Trump announced the joint action against Assad's regime from the White House late Friday. Meanwhile, Syria said the targeted strikes will not stop the country from ridding itself of armed rebels.
Wells Fargo stock traded down $1.81 during mid-day trading on Thursday, hitting $50.89. The financial services provider reported $0.96 EPS for the quarter, missing the Zacks' consensus estimate of $1.00 by $0.04. Wells Fargo had a return on equity of 12.24% and a net margin of 22.57%. The company had revenue of $21.93 billion during the quarter, compared to analysts' expectations of $21.74 billion. Consumer and small business banking deposits in the first quarter fell $2 billion from a year ago, to $755.5 billion. The hedge fund run by David Abrams held 2.86M shares of the major banks company at the end of 2017Q4, valued at $173.74 million, down from 3.34M at the end of the previous reported quarter. Dnb Asset As invested in 13,873 shares or 0.01% of the stock. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider's stock valued at $1,451,064,000 after purchasing an additional 368,667 shares during the last quarter. King Street Capital Management Lp sold 400,000 shares as the company's stock rose 57.83% while stock markets declined. Following the completion of the transaction, the director now directly owns 81 shares of the company's stock, valued at $4,534.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The ratio improved due to WFC positioning: 63 sold and 746 reduced.
Vanguard Group Inc increased its stake in Wells Fargo Co New (WFC) by 0.54% based on its latest 2017Q4 regulatory filing with the SEC. Morgan Stanley maintained Wells Fargo & Company (NYSE:WFC) rating on Friday, February 2.
A modest profit increase for Wells Fargo & Co.in the first quarter was noted by analysts and investors Friday, but was overshadowed by the lingering fraudulent customer-account scandal. Capital World Investors now owns 111,753,448 shares of the financial services provider's stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the last quarter. Investors holded 3.65 billion in 2017Q3 but now own 3.64 billion shares or 0.11% less. Geode Management Llc accumulated 46.31M shares or 0.95% of the stock. The firm's quarterly revenue was down 1.4% on a year-over-year basis. equities research analysts forecast that Wells Fargo will post 4.69 earnings per share for the current fiscal year. The Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp holds 228,300 shares with $51.37 million value, down from 230,200 last quarter.
Google's Redesign of Gmail to Include a 'Confidential Mode'
Google has said that it will make the new features available to G Suite and Gmail users " in the coming weeks ". Also, the new button will load organic results first and then display ads relevant to them, Google added.
COPYRIGHT VIOLATION NOTICE: This news story was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of USA & worldwide copyright and trademark law. Tenet Healthcare Corporation (NYSE:THC) has risen 28.80% since April 13, 2017 and is uptrending. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance.
Russia: No Proof of Chemical Attack in Syria, 'It Was Staged'
Vassily Nebenzia, Moscow's UN ambassador, said he "cannot exclude" war between the United States and Russian Federation . Trump said he was prepared to sustain the response until Assad's government stopped its use of chemical weapons .