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WFC

Wells Fargo

$51.42

-1.02 (-1.95%)

08:09
10/12/18
10/12
08:09
10/12/18
08:09

Wells Fargo reports allowance for credit losses $11B at September 30

The allowance for credit losses, including the allowance for unfunded commitments, totaled $11.0 billion at September 30, 2018, down $154 million from June 30, 2018. Third quarter 2018 included a $100 million reserve release, which reflected strong credit performance and lower loan balances. The allowance coverage for total loans was 1.16 percent, compared with 1.18 percent in second quarter 2018. The allowance covered 4.1 times annualized third quarter net charge-offs, compared with 4.6 times in the prior quarter. The allowance coverage for nonaccrual loans was 155 percent at September 30, 2018, compared with 148 percent at June 30, 2018. The Company believes the allowance was appropriate for losses inherent in the loan portfolio at September 30, 2018.

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WFC Wells Fargo
$51.42

-1.02 (-1.95%)

09/12/18
JPMS
09/12/18
NO CHANGE
JPMS
Underweight
Reported OCC rejection would be negative for Wells, says JPMorgan
According to Reuters, Office of the Comptroller of the Currency regulators have rejected Wells Fargo's plan to repay its auto customers who were pushed to buy unnecessary auto insurance, JPMorgan analyst Vivek Juneja tells investors in a research note. This rejection would be a negative for Wells as it may be required to spend more and take more time to satisfy regulators, the analyst writes. He also views the news negatively overall for the bank's ongoing regulatory issues. Juneja reiterates an Underweight rating on shares of Wells Fargo.
09/17/18
EDJN
09/17/18
UPGRADE
EDJN
Buy
Wells Fargo upgraded to Buy from Hold at Edward Jones (Friday)
09/25/18
WOLF
09/25/18
INITIATION
Target $71
WOLF
Outperform
Wells Fargo initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Wells Fargo with an Outperform and $71 price target.
09/28/18
UBSW
09/28/18
NO CHANGE
Target $63
UBSW
Buy
Wells Fargo app download data suggests no momentum slowdown, says UBS
UBS analyst Saul Martinez reassessed Wells Fargo client engagement and employee sentiment and found that app download data was encouraging and showed no slowdown in momentum. Employee sentiment, however, showed a material weakening. The analyst said meaningful improvements in earnings power and profitability require revenue to stabilize and the recent share weakness may be due to concerns that business momentum and top line growth will continue to lag. Martinez maintained his Buy rating and $63 price target on Wells Fargo shares.

TODAY'S FREE FLY STORIES

OHRP

Ohr Pharmaceutical

$2.01

(0.00%)

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

, MRK

Merck

$79.79

0.35 (0.44%)

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Immune Design, Merck rating change  »

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IMDZ

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$5.81

4.385 (307.72%)

MRK

Merck

$79.79

0.35 (0.44%)

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ANET

Arista Networks

$266.95

-3.58 (-1.32%)

10:45
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NKE

Nike

$83.97

-0.87 (-1.03%)

10:40
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On The Fly
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WFT

Weatherford

$0.79

-0.0263 (-3.21%)

10:40
02/21/19
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Options
10.1K Weatherford Mar 1 calls trade as shares drop 2c to 80c »

10.1K Weatherford Mar 1…

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KAR

KAR Auction

$48.30

1.56 (3.34%)

10:37
02/21/19
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10:37
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KAR Auction rating change  »

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NCLH

Norwegian Cruise Line

$55.71

1.99 (3.70%)

10:32
02/21/19
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10:32
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Norwegian Cruise Line analyst commentary  »

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BSX

Boston Scientific

$40.03

-0.1 (-0.25%)

10:30
02/21/19
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10:30
Options
Bullish option flow in Boston Scientific »

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SNPS

Synopsys

$100.68

-2.3 (-2.23%)

10:26
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Synopsys analyst commentary  »

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NWL

Newell Brands

$17.18

0.05 (0.29%)

10:25
02/21/19
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10:25
Periodicals
Newell Brands CEO faces board pressure following poor sales, WSJ reports »

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10:25
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Conference/Events
Morgan Stanley consumer goods analysts to hold analyst/industry conference call »

Executive Director of…

BIIB

Biogen

$323.78

-11.23 (-3.35%)

, ESALY

Eisai

$0.00

(0.00%)

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Conference/Events
JPMorgan large-cap biotech analysts to hold an analyst/industry conference call »

Large Cap Biotech Analyst…

BIIB

Biogen

$323.78

-11.23 (-3.35%)

ESALY

Eisai

$0.00

(0.00%)

03/08/13
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Conference/Events
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Conference/Events
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EEM

iShares MSCI Emerging Markets ETF

$42.48

-0.175 (-0.41%)

10:20
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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10:15
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U.S. leading index dipped 0.1% to 111.3 in January »

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HOME

At Home Group

$23.84

0.01 (0.04%)

, HLIT

Harmonic

$5.51

0.19 (3.57%)

10:11
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Fly Intel: Top five analyst initiations »

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HOME

At Home Group

$23.84

0.01 (0.04%)

HLIT

Harmonic

$5.51

0.19 (3.57%)

ATKR

Atkore

$24.08

-0.09 (-0.37%)

BTX

BioTime

$1.24

0.08 (6.90%)

VRCA

Verrica Pharmaceuticals

$10.99

(0.00%)

APHA

Aphria

$10.40

0.24 (2.36%)

KSHB

KushCo Holdings

$0.00

(0.00%)

HEXO

HEXO Corp

$6.11

0.13 (2.17%)

CGC

Canopy Growth

$45.44

-0.74 (-1.60%)

ACB

Aurora Cannabis

$7.18

0.12 (1.70%)

TLRY

Tilray

$80.25

-0.82 (-1.01%)

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GRMN

Garmin

$82.02

-1 (-1.20%)

, BIIB

Biogen

$324.13

-10.88 (-3.25%)

10:11
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GRMN

Garmin

$82.02

-1 (-1.20%)

BIIB

Biogen

$324.13

-10.88 (-3.25%)

FARO

Faro Technologies

$45.51

1.73 (3.95%)

DHI

D.R. Horton

$39.91

0.04 (0.10%)

LEN

Lennar

$49.12

0.16 (0.33%)

GIS

General Mills

$46.68

-0.26 (-0.55%)

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