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WFC

Wells Fargo

$55.21

-0.45 (-0.81%)

08:02
10/13/17
10/13
08:02
10/13/17
08:02

Wells Fargo Q3 EPS includes impact of 20c per share litigation accrual

CFO John Shrewsberry said, "Wells Fargo reported $4.6 billion of net income in the third quarter, which included the impact of the $1 billion, or $(0.20) per share, discrete litigation accrual. We continued to see good credit performance and our liquidity and capital remained exceptionally strong. During the quarter, our first under our 2017 Capital Plan, we returned $4.0 billion to shareholders through common stock dividends and net share repurchases, up from $3.4 billion in the second quarter. We remain committed to our target of $2 billion of expense reductions by the end of 2018 which will be reinvested in the business and an additional $2 billion by the end of 2019 intended to go to the bottom line."

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WFC Wells Fargo
$55.21

-0.45 (-0.81%)

09/15/17
UBSW
09/15/17
NO CHANGE
Target $56
UBSW
Neutral
Wells Fargo revenue headwinds can persist, says UBS
UBS analyst Saul Martinez said proprietary analysis suggests Wells Fargo's difficult backdrop for client acquisition remains and the recent disclosures have kept the company in the spotlight for the wrong reasons. He believes earnings growth depends on efficiency improvement and more aggressive stock buybacks. Martinez maintained his Neutral rating and lowered his price target to $56 from $59 on Wells Fargo shares.
09/26/17
DBAB
09/26/17
DOWNGRADE
Target $136
DBAB
Hold
PNC Financial downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded PNC Financial (PNC) to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes a number of positives are priced into PNC shares. O'Connor upped his price target for the stock to $136 from $130. The analyst continues to prefer banks with a "turnaround angle," like Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital markets businesses like Morgan Stanley (MS). O'Connor this morning also downgraded JPMorgan (JPM) to Hold.
09/28/17
NOMU
09/28/17
DOWNGRADE
NOMU
Neutral
U.S. Bancorp downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Bill Carcache downgraded U.S. Bancorp (USB) to Neutral saying he sees downside risk to net interest income and provision expectations. Consensus expects U.S. Bancorp's loan growth to accelerate to 6% by 2018, which is too optimistic given the bank's recent comments, the analyst contends. He lowered his price target for the shares to $55 from $57. Carcache remains bullish on Wells Fargo (WFC) and raised his price target for the shares to $65 from $64.
10/06/17
VERF
10/06/17
INITIATION
VERF
Sell
Wells Fargo initiated with a Sell at Vertical Group
Vertical Group analyst Richard Bove initiated earlier shares of Wells Fargo with a Sell rating and $49.67 price target.

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WDAY

Workday

$125.67

-0.35 (-0.28%)

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CNP

CenterPoint Energy

$26.23

-0.5 (-1.87%)

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AAOI

Applied Optoelectronics

$34.55

1.22 (3.66%)

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STMP

Stamps.com

$184.95

-5.1 (-2.68%)

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LNKD

Acquired by MSFT

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Marcus

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PHX

Panhandle Oil & Gas

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CRM

Salesforce

$114.48

0.13 (0.11%)

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Mellanox

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Harsco

$16.75

0.45 (2.76%)

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ROKU

Roku

$51.10

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