Wells Fargo Could Face $1B Penalty For Abuses

"In the interim, Wells Fargo is engaging our customers that legally manufacture guns as well as different stakeholders on that which we can do jointly to market gun safety within our communities".

Other hedge funds have also recently modified their holdings of the company.

Sanders estimated a potential $1 billion penalty could lower Wells Fargo's first-quarter earnings per share to almost 91 cents. Waters Parkerson Llc has invested 0.32% in Wells Fargo & Company (NYSE:WFC). Citadel Advisors LLC bought a new position in shares of Duff & Phelps Global in the third quarter valued at approximately $334,000.

Wells Fargo entered the investment banking business through its 2008 purchase of Charlotte's Wachovia. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider's stock worth $127,000 after acquiring an additional 891 shares during the last quarter. The efforts to build a better Wells Fargo during the quarter included continuing to improve our compliance and operational risk management programs, investing in innovative products and services that enhance the customer experience including the roll-out of our digital mortgage application and predictive banking service, and increasing the minimum hourly pay rate for USA -based team members. Badgley Phelps & Bell owns 0.56% invested in Wells Fargo & Company (NYSE:WFC) for 135,003 shs. Wells Fargo & Company had 136 analyst reports since July 29, 2015 according to SRatingsIntel. The company's stock price fell by 3% on Friday, to close at close at $50.89. "Buy" rating has 12, "Sell" are 3, while 7 are "Hold".

Wells Fargo & Company (NYSE:WFC) traded up 0.23% during mid-day trading on Friday, reaching $56.86. Inv House Limited Liability Company stated it has 0.05% in Wells Fargo & Company (NYSE:WFC).

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.05.

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Wells reported fee income of $9.7 billion, or $235 million lower than in the first quarter of 2017. Wells Fargo & Company had a return on equity of 12.60% and a net margin of 23.30%. In the same period of previous year, EPS was said to be $1.00 and revenue at $22.0 billion.

Wells Fargo declared that its board has initiated a share repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 outstanding shares. The stock was acquired at an average cost of $15.10 per share, for a total transaction of $1,482,759.60.

According to a filing Balyasny Asset Management Llc rose its stake in Ball Corp (NYSE:BLL) by 97,761 shares to 113,855 shares, valued at $4.31M in 2017Q4. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data.

COPYRIGHT VIOLATION NOTICE: "Wells Fargo (NYSE:WFC) Position Cut by Cypress Asset Management Inc".

ILLEGAL ACTIVITY WARNING: This article was first posted by Macon Daily and is owned by of Macon Daily. The decline was driven by a decrease in commercial deposits, primarily from financial institutions.

(Copyright © 2015. All Rights Reserved.)

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