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WFC

Wells Fargo

$57.74

-0.38 (-0.65%)

11:02
02/17/17
02/17
11:02
02/17/17
11:02

Wells Fargo reports January branch interactions down 4% y/y

Wells Fargo reported Retail Banking customer activity data for January 2017. Total branch interactions were down 12% from December, which is typically a month with higher levels of teller activity, and down 4% from January 2016. Average consumer and small business deposit balances were stable from December 2016 and up 7% YoY. Consumer checking account opens were up 18% LM due to typical seasonality, but down 0.2 million, or 31%, YoY. Customer-initiated consumer checking account closures were up 1% LM and 4% YoY. Primary consumer checking customers of 23.4 million, down modestly LM, but up 2.6% YoY. Tim Sloan, President and Chief Executive Officer noted, "Today's update on Retail Banking trends is part of our ongoing commitment to transparency. We remain focused on meeting our customers' financial needs by providing great service and quality products, and we're pleased that our customer experience survey scores increased for the third consecutive month. We will provide our next update on customer activity trends in March." Mary Mack, head of Community Banking, added, "After factoring in day count differences and typical seasonality, trends were relatively stable in January and within our expectations. We have made good progress, including rolling out our new Retail Banking incentive compensation program in January, but we have more work ahead as we remain focused on strengthening our relationships with existing customers and building new ones with potential customers."

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WFC Wells Fargo
$57.74

-0.38 (-0.65%)

01/18/17
01/18/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Underperform from Market Perform at BMO Capital with analyst Daniel Salmon arguing that the recent positive upturn in investor sentiment and stock performance has come too early, leaving the risk/reward balance skewed to the downside. As reasons for his caution, Salmon cites expectations for more negative data points for ESPN, consensus Studio estimates that he believes may be too high and questions returning around replacing highly regarded CEO Bob Iger. The analyst lowered his price target on Disney shares to $88 from $90. 2. J.C. Penney (JCP) and Kohl's (KSS) were downgraded to Underperform from Neutral at Credit Suisse. 3. Wells Fargo (WFC) downgraded to Hold from Buy at Argus with analyst Stephen Biggar citing valuation and his belief that the company will face "additional revenue headwinds" as it seeks to "repair its reputation." 4. Equifax (EFX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Toni Kaplan saying she expects higher rates to pressure Equifax's rate-sensitive revenue streams and lowered its price target to $137 from $145. 5. Tiffany (TIF) downgraded to Neutral from Overweight at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/16/17
FBCO
02/16/17
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FBCO
Neutral
Wells Fargo downgraded to Neutral from Outperform at Credit Suisse
02/16/17
02/16/17
DOWNGRADE
Target $56

Neutral
Wells Fargo downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst Susan Roth Katzke downgraded Wells Fargo to Neutral from Outperform, with a $56 price target, on valuation.
02/16/17
02/16/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Regeneron (REGN) downgraded to Neutral from Buy at Goldman by analyst Terence Flynn, citing valuation with the stock within 9% of his unchanged $417 price target. The analyst sees less upside potential relative to Regeneron's large-cap peers Amgen (AMGN) and Alexion (ALXN), he said. 2. GoDaddy (GDDY) downgraded to Hold from Buy at Summit Redstone by analyst Jonathan Kees, who notes that management brought down growth expectations for its three segments. Kees believes the integration of HEG may be long as personnel need to be trained on GoDaddy products, sales, and service before market expansion begins and believes shares could pullback similar to Web.com (WEB) and Endurance (EIGI) as they went through their acquisitions. 3. Wells Fargo (WFC) downgraded to Neutral at Credit Suisse by analyst Susan Roth Katzke, citing valuation. 4. Angie's List (ANGI) downgraded to Sell from Neutral at Roth Capital by analyst Darren Aftahi, who lowered his price target for the shares to $4.75 from $6.50 following the company's Q4 results. 5. Groupon (GRPN) downgraded to Neutral from Outperform at Wedbush by analyst Aaron Turner, saying shares have achieved his $4.50 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NKE

Nike

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0.195 (0.32%)

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IBB

iShares Nasdaq Biotechnology Index

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2.02 (1.94%)

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AKS

AK Steel

$5.46

0.13 (2.44%)

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ONCE

Spark Therapeutics

$73.38

2.82 (4.00%)

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NKE

Nike

$61.67

0.365 (0.60%)

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09:45
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General news
JOLTS Job Openings to be reported at 10:00 »

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IOTS

Adesto Technologies

$7.00

-0.45 (-6.04%)

09:44
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Adesto Technologies management to meet with Roth Capital »

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AGIO

Agios Pharmaceuticals

$60.97

0.14 (0.23%)

09:42
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Conference/Events
Agios Pharmaceuticals to hold an investor meeting »

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KMB

Kimberly-Clark

09:41
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Technical View: Kimberly-Clark falls in early trading, analyst action »

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AKS

AK Steel

, CELG

Celgene

$106.09

3.36 (3.27%)

09:40
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Unusually active option classes on open December 11th »

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AKS

AK Steel

CELG

Celgene

$106.09

3.36 (3.27%)

GME

GameStop

CTL

CenturyLink

X

U.S. Steel

ORCL

Oracle

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09:40
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General news
Fed funds futures are flat to lower ahead of Wednesday's FOMC »

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ECR

Eclipse Resources

09:35
12/11/17
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Eclipse Resources to hold a conference call »

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BTE

Baytex Energy

09:35
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SNN

Smith & Nephew

09:33
12/11/17
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YPF

YPF

09:32
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FMS

Fresenius Medical

09:32
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TEF

Telefonica

09:31
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Telefonica rating change  »

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IEX

IDEX Corp.

09:31
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IDEX Corp. announces acquisition of thinXXS Microtechnology AG »

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HD

Home Depot

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AIBSF

Allied Irish Banks

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ARGX

Argenx

$30.45

0.05 (0.16%)

09:29
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VTGN

VistaGen Therapeutics

$1.80

-0.23 (-11.33%)

09:27
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Syndicate
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FIT

Fitbit

, CBOE

CBOE Holdings

$125.27

1.08 (0.87%)

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FIT

Fitbit

CBOE

CBOE Holdings

$125.27

1.08 (0.87%)

NXPI

NXP Semiconductors

$115.29

0.16 (0.14%)

QURE

uniQure

$17.82

0.8 (4.70%)

CSIQ

Canadian Solar

$17.25

0.13 (0.76%)

PZRX

PhaseRx

$1.00

0.0126 (1.28%)

WPC

W.P. Carey

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NDAQ

Nasdaq

$78.78

0.99 (1.27%)

09:26
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09:26
Recommendations
Nasdaq analyst commentary  »

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RPT

Ramco-Gershenson

09:25
12/11/17
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Conference/Events
Ramco-Gershenson to host investor day »

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