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Wells Fargo & Co (WFC) Stock Falls on Q3 Revenue Miss

15 October 2017, 12:31 | Vera Richards

Wells Fargo shares fall 2% on disappointing revenue, higher legal costs

Bank Price to Book Comparison Chart

Wells Fargo missed analyst expectations for both revenue and earnings-per-share.

The reports from the banks kicked off the third-quarter earnings season, with investors hoping profit growth will help justify valuations after a rally that has sent the 500 up about 14 per cent so far this year. The stock decreased 2.72% or $1.5 on October 13, reaching $53.69.

"Over the past year we have made fundamental changes to transform Wells Fargo as part of our effort to rebuild trust and build a better bank". After having $-0.11 EPS previously, Sonus Networks, Inc.'s analysts see -181.82% EPS growth.

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Mackay Shields Llc increased its stake in Tyson Foods Inc (TSNU) by 1.46% based on its latest 2017Q2 regulatory filing with the SEC. Calpine Corporation (NYSE:CPN) has declined 5.37% since October 14, 2016 and is downtrending. It has underperformed by 16.70% the S&P500. Vanguard Group Inc. raised its holdings in shares of Wells Fargo & by 1.2% in the second quarter. Expedia Inc Del (NASDAQ:EXPE) was reduced too.

Residential mortgage loan originations were $59 billion, representing an increase from Q2 2017. Its down 0.49, from 1.89 in 2017Q1. Capital World Investors raised its holdings in shares of Wells Fargo & by 10.8% in the second quarter. 40,280 are held by Sterneck. Mairs & Power Inc sold 7,315 shares as Wells Fargo & Co (WFC)'s stock declined 8.66%. Investment Of Virginia Limited Liability Company accumulated 155,779 shares or 2.08% of the stock. Barrow Hanley Mewhinney & Strauss Lc accumulated 34.57 million shares.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. Ntv Asset Lc invested in 11,363 shares or 0.19% of the stock. Sonata Capital Group Inc owns 6,200 shares. 238.40 million shares or 10.76% more from 215.25 million shares in 2017Q1 were reported. Gilder Gagnon Howe Com reported 0.02% stake.

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TRADEMARK VIOLATION NOTICE: "Wells Fargo & Company (WFC) Upgraded to Hold by Zacks Investment Research" was originally reported by TrueBlueTribune and is owned by of TrueBlueTribune. Barton Inv Mgmt reported 8,420 shares. The legal version of this story can be read at https://weekherald.com/2017/10/14/parsec-financial-management-inc-boosts-position-in-wells-fargo-company-wfc.html. Mcdonald Capital Investors Inc who had been investing in Stericycle Inc for a number of months, seems to be bullish on the $6.02 billion market cap company. Therefore 89% are positive.

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. On Friday, September 9 the stock rating was maintained by RBC Capital Markets with "Sector Perform". BMO Capital Markets maintained Wells Fargo & Co (NYSE:WFC) on Sunday, July 30 with "Hold" rating. Waters Parkerson And Co Ltd Liability Co invested in 0.33% or 64,233 shares. The firm earned "Overweight" rating on Tuesday, January 3 by Barclays Capital. Evercore maintained the stock with "Outperform" rating in Wednesday, April 12 report. Goldman Sachs Grp Inc has 37,252 shares for 0% of their portfolio. Wells Fargo & presently has a consensus rating of "Hold" and a consensus target price of $57.19. As per Thursday, February 16, the company rating was downgraded by Credit Suisse.

Since May 5, 2017, it had 1 insider purchase, and 3 selling transactions for $3.93 million activity. The insider SARGENT RONALD bought 9,050 shares worth $499,108. Mack Mary T had sold 38,988 shares worth $2.05 million on Thursday, June 8.

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SAP SE is a software and service provider. The company has market cap of $387.06 million. The Firm offers enterprise application software. The Company's products include session border controllers (SBCs), diameter signaling controllers (DSCs) and VoWiFi solutions. It turned negative, as 36 investors sold PE shares while 92 reduced holdings. Morgan Stanley stated it has 200 shares. (NASDAQ:SONS). Advisory Ser Networks Ltd Liability invested in 0% or 110 shares. Wells Fargo & Mn reported 94,639 shares. 4,213 are held by Meritage. Sonus Networks had 11 analyst reports since July 30, 2015 according to SRatingsIntel. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Imperial Capital maintained it with "Underperform" rating and $80 target in Friday, September 9 report. The rating was initiated by Piper Jaffray with "Neutral" on Tuesday, November 24. The stock has "Buy" rating by William Blair on Wednesday, July 12. Barrington Research upgraded Sonus Networks, Inc.

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