Wells Fargo Earnings Results For Q1 2018 Beat Estimates


Shares of Wells Fargo & Company (NYSE:WFC) have seen the needle move 1.48% in the most recent session. The firm owned 123,145 shares of the financial services provider's stock after selling 106,640 shares during the quarter. Wells Fargo has an average rating of "Hold" and an average price target of $62.64.

A number of hedge funds have recently added to or reduced their stakes in WFC.

Analysts polled by Thomson Reuters expected Wells Fargo to report income of $ 1.07 per share on revenue of $ 21.75 billion for the first quarter. Group Inc Inc, a New York-based fund reported 1.46 million shares.

The CFPB and OCC have been investigating Wells Fargo over reports that the bank had charged customers for auto insurance products they did not need, along with unnecessary fees to lock in mortgage interest rates. Highland Private Wealth Management now owns 4,481 shares of the financial services provider's stock worth $248,000 after purchasing an additional 43 shares during the period. BKS Advisors LLC purchased a new stake in shares of Wells Fargo in the third quarter valued at approximately $143,000.

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Execution Review: Taking an investigate the execution of WFC stock, a financial specialist will come to realize that the week by week execution for this stock is esteemed at -1.85%, bringing about a performance for the month at -10.5%.

At time of publication, Wells Fargo shares were trading at $52.70.

Basswood Capital Management Llc, which manages about $2.47 billion and $2.16 billion US Long portfolio, upped its stake in Sandy Spring Bancorp Inc (NASDAQ:SASR) by 341,371 shares to 476,689 shares, valued at $18.60M in 2017Q4, according to the filing. "Our expenses in the first quarter included typically higher personnel expense; however, our noninterest expense dollar target range for full year 2018 remains unchanged". Monetary Management Group Inc sold 16,639 shares as the company's stock declined 10.37% with the market.

- Big profit reports from several banks are reminding markets that already healthy earnings for USA companies are climbing even higher.

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The company's profit totaled USD5.94 billion, or USD1.12 per share. Aimz Inv Advsr Limited Liability Com holds 0.74% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 16,184 shares. Finally, Rafferty Capital Markets upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Tuesday, December 6th. Out of all the analysts providing ratings, 9 have rated the stock a Strong Buy or Buy, according to Zacks Research. Investors have the ability to follow these sell-side ratings in order to assist with stock analysis.

Shares of NYSE:WFC opened at $52.70 on Friday. The firm has a market cap of $256,667.41, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by registrarjournal.com and is owned by of registrarjournal.com. The company reported the earnings of $0.97/Share in the last quarter where the estimated EPS by analysts was $1.07/share.

The topline results for the first quarter decreased 1% to $ 21.93 billion from $ 22.26 billion in the same quarter previous year. This is down from the banking company's revenue of $22.30 billion from the first quarter of 2017. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $55.98 per share, with a total value of $503,820.00.