Business

Wells Fargo to pay $1B to settle claims of mortgage lending abuses

Wells Fargo to pay $1B to settle claims of mortgage lending abuses

GW Pharmaceuticals plc (NASDAQ:GWPH) has declined 9.18% since April 21, 2017 and is downtrending.

Doheny Asset Management increased its stake in Wells Fargo Bk N A (WFC) by 251.41% based on its latest 2017Q4 regulatory filing with the SEC. The OCC's $500 million fine will be credited toward that amount, leaving Wells Fargo with a $1 billion bill overall. Teacher Retirement Sys Of Texas invested in 0.62% or 1.55M shares. Both finance companies said Wells Fargo agreed to settle without admitting any wrongdoing.

Since November 17, 2017, it had 0 insider buys, and 1 sale for $292,234 activity.

Bloomberg has the details on the massive fine that's been dropped on Wells Fargo. Therefore 38% are positive. UBS raised shares of Wells Fargo from a "neutral" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Thursday, April 5th. The firm earned "Outperform" rating on Tuesday, January 12 by Keefe Bruyette & Woods. The firm has "Buy" rating by Robert W. Baird given on Monday, February 5. The stock now has a consensus rating of "Hold" and a consensus price target of $61.31. The company was maintained on Monday, February 5 by Bank of America. Minnesota-based Sns Financial Gru Lc has invested 0.14% in Wells Fargo & Company (NYSE:WFC). Buckingham Research decreased their price objective on Wells Fargo from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, April 16th. The firm has "Strong-Buy" rating given on Friday, April 28 by Vining Sparks. Wells Fargo has a 52-week low of $49.27 and a 52-week high of $66.31.

Wells Fargo (NYSE:WFC) last announced its earnings results on Friday, April 13th. They expect $0.23 earnings per share, up 64.29% or $0.09 from last year's $0.14 per share.

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In its own announcement, Wells Fargo said that it will adjust its first-quarter 2018 results with an additional accrual of $800 million (not tax deductible), reducing its net income by the same amount and by $0.16 per share to $0.96.

Big Money Sentiment increased to 0.75 in Q4 2017. Its down 0.06, from 0.83 in 2017Q3. 466 rose holdings while 138 funds acquired holdings.

Neville Rodie & Shaw Inc, which manages about $1.50 billion and $948.73 million US Long portfolio, upped its stake in Salesforce.Com Inc (NYSE:CRM) by 4,050 shares to 28,049 shares, valued at $2.87 million in 2017Q4, according to the filing. Willingdon Wealth Mngmt has 6,256 shares for 0.12% of their portfolio. Lynch And Assoc In owns 123,665 shares for 2.81% of their portfolio. Tiverton Asset Mngmt Ltd Liability owns 56,590 shs. Aristotle Cap Limited Co reported 8,100 shares stake. Capital World Investors boosted its stake in shares of Wells Fargo by 10.8% in the 2nd quarter. WFC has 11.84 million shares volume. Moreover, British Columbia Inv Mgmt Corporation has 0.93% invested in Wells Fargo & Company (NYSE:WFC) for 2.18M shs.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. One Trading Ltd Partnership accumulated 268,672 shares. Wedgewood Incorporated Pa reported 19,345 shares or 1.35% of all its holdings. Prudential Inc holds 0.93% or 11.22M shares. Cypress Capital Management Ltd holds 3.06% or 186,354 shares. Boston Advisors Ltd Llc has invested 0.63% in Wells Fargo & Company (NYSE:WFC). The firm has "Buy" rating given on Friday, April 13 by Sandler O'Neill. Therefore 40% are positive. Nations Financial Group Inc. (NYSE:WFC) has 48% bullish analysts. Goldman Sachs initiated SemGroup Corporation (NYSE:SEMG) on Thursday, August 25 with "Buy" rating. On Sunday, February 4 BMO Capital Markets maintained the shares of WFC in report with "Hold" rating. The firm has "Equal-Weight" rating by Barclays Capital given on Friday, October 20. The rating was maintained by RBC Capital Markets with "Buy" on Monday, November 13. Ca reported 0.22% stake. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.07 by $0.05. First Natl Bank Of Hutchinson reported 5,872 shares. Geode Capital Management Llc has cut its stake in United Continental Holdings (NYSE:UAL) and also reduced its holding in Discover Financial Services (NYSE:DFS) by 62,996 shares in the quarter, for a total of 4.41 million shares. About 24,747 shares traded.


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