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WFC

Wells Fargo

$46.84

0.31 (0.67%)

12:33
12/19/18
12/19
12:33
12/19/18
12:33

Wells Fargo says $480M securities class action settlement approved by court

Wells Fargo announced that it has received final court approval of an agreement to resolve a previously disclosed consolidated securities class-action in the United States District Court for the Northern District of California alleging certain misstatements and omissions in the company's disclosures related to sales practices maters. Wells Fargo said it is "pleased" the case has received final approval by the court. The $480M settlement agreement provides for payment of class member claims. The settlement class consists of all persons and entities who purchased Wells Fargo & Company common stock from Feb. 26, 2014 through Sept. 20, 2016. The settlement amount was fully accrued as of March 31, 2018 and has been paid into a settlement escrow. The company has denied the claims and allegations in the action and entered into the settlement agreement to avoid the cost and disruption of further litigation.

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WFC Wells Fargo
$46.84

0.31 (0.67%)

12/12/18
KBWI
12/12/18
NO CHANGE
KBWI
Keefe downgrades Universal Banks sector to Market Weight from Overweight
Keefe Bruyette analyst Frederick Cannon downgraded his rating on the Universal Banks sector to Market Weight from Overweight. Universal Bank stocks underperformed the broader market this year as loan growth repeatedly disappointed and macroeconomic risks weighed on shares into year-end, Cannon tells investors in a research note. As the analyst looks into 2019, he "does not see enough positive catalysts emerging" that could move the group higher. Cannon says Universal Banks are currently trading at 60% of the S&P 500 based on 2019 consensus earnings estimates, but that relative valuation is not enough to make him stay constructive on the group. His firm last night also downgraded shares of Bank of America (BAC) and Morgan Stanley (MS) to Market Perform from Outperform.
12/10/18
BARD
12/10/18
UPGRADE
Target $101
BARD
Outperform
Capital One valuation 'too compelling to ignore,' says Baird
Baird analyst David George upgraded Capital One (COF) to Outperform from Neutral with a $101 price target, telling investors in a research note that the valuation is "too compelling to ignore" for this "quality" franchise. George acknowledges the high leverage to consumer lending and more limited credit visibility, but thinks bear-case earnings power in a recession is $9-$10/sh, and valuation still looks reasonable in this stressed scenario. George says Wells Fargo (WFC), Citizens Financial (CFG) and PNC (PNC) remain his other top Outperform-rated ideas.
12/07/18
BARD
12/07/18
NO CHANGE
Target $62
BARD
Outperform
Wells Fargo weakness a buying opportunity, says Baird
Baird analyst David George noted a report that Wells Fargo's regulatory remediation plan was rejected by the Federal Reserve. The analyst said improving regulatory relations is a top priority and significant investment in regulatory compliance/controls and excellent CCAR results suggest the company is making progress. He also noted that earlier this week there was no change in the company's progress or timetable for exiting the asset cap, so it is very unlikely the rejection news was new or surprising to the company. George reiterated his Outperform rating and $62 price target on Wells Fargo shares.
12/07/18
FBCO
12/07/18
NO CHANGE
Target $35
FBCO
Outperform
Bank of America price target cut to $35 from $36 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on Bank of America (BAC) but cut her price target to $35 from $36. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. For Bank of America, she says organic revenue growth, visible operating leverage, manageable credit cost increases and capital efficiency will drive realization of franchise value. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM) and Wells Fargo (WFC).

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TIGR

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MERC

Mercer

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0.03 (0.27%)

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AYX

Alteryx

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CPS

Cooper-Standard

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-2.77 (-7.62%)

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AVD

American Vanguard

$13.50

-1.76 (-11.53%)

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OMI

Owens & Minor

$6.85

0.42 (6.53%)

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TEVA

Teva

$7.41

0.45 (6.47%)

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Teva rises 6.3% »

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  • 07

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MS

Morgan Stanley

$42.85

0.31 (0.73%)

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Options
Size opening call buy in Morgan Stanley ahead of earnings »

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DFIN

Donnelley Financial Solutions

$11.25

0.71 (6.74%)

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MCK

McKesson

$145.74

7.57 (5.48%)

, ABC

AmerisourceBergen

$86.20

3.02 (3.63%)

09:55
10/16/19
10/16
09:55
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09:55
Options
Early notable gainers among liquid option names on October 16th »

Notable gainers among…

MCK

McKesson

$145.74

7.57 (5.48%)

ABC

AmerisourceBergen

$86.20

3.02 (3.63%)

CAH

Cardinal Health

$49.72

1.79 (3.73%)

DO

Diamond Offshore

$5.62

0.13 (2.37%)

EQT

EQT Corporation

$9.89

0.25 (2.59%)

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GOOG

Alphabet

$1,247.70

4.17 (0.34%)

09:55
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Conference/Events
House Energy & Commerce Committee to hold a hearing »

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09:55
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Conference/Events
House Transportation & Intrastructure Committee to hold a hearing »

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Conference/Events
House Financial Services Committee to hold a hearing »

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Conference/Events
The U.S. Commodity Futures Trading Commission to hold a meeting »

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HTHT

Huazhu Group

$33.91

-0.15 (-0.44%)

09:54
10/16/19
10/16
09:54
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09:54
Downgrade
Huazhu Group rating change  »

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FLS

Flowserve

$45.77

-0.07 (-0.15%)

09:52
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Periodicals
Flowserve seen as potential activist target by Dealreporter »

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ABT

Abbott

$80.99

-1.07 (-1.30%)

09:49
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Abbott says focused on organic execution »

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  • 16

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MCK

McKesson

$144.00

5.83 (4.22%)

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DFIN

Donnelley Financial Solutions

$11.05

0.51 (4.84%)

09:47
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USB

U.S. Bancorp

$54.43

0.7 (1.30%)

09:47
10/16/19
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  • 16

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MFGP

Micro Focus

$14.53

0.64 (4.61%)

09:47
10/16/19
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Micro Focus rises 5.1% »

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09:45
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General news
Business Inventories to be reported at 10:00 »

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General news
Housing Market Index to be reported at 10:00 »

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USB

U.S. Bancorp

$53.73

(0.00%)

09:41
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