Published: Sat, October 14, 2017
Money | By Charlene Sutton

Wells Fargo & Company Earnings Ahead: Quick Glance

Wells Fargo & Company Earnings Ahead: Quick Glance

Wells, the third-largest USA bank by assets, said its third-quarter profit fell 19 percent, mostly because of a $1 billion provision for a mortgage settlement over accusations dating to before 2008. The bank noted, "the production margin on residential held-for-sale mortgage loan originations was 1.24 percent, consistent with the second quarter".

ARM interest rates in the 5 year category at Wells Fargo are being quoted at 3.375% and an April of 3.445%. Waters Parkerson And Co Ltd Liability Co invested in 0.33% or 64,233 shares. Clearbridge Invs Ltd Llc holds 0.54% or 9.91M shares in its portfolio. Calamos Ltd Co holds 0.03% or 127,695 shares. It also upped Ecolab Inc (NYSE:ECL) stake by 30,055 shares and now owns 2.76 million shares. Ls Invest Advisors Limited Com has invested 0.74% of its portfolio in Wells Fargo & Co (NYSE:WFC). Jpmorgan Chase & Co, a New York-based fund reported 1,081 shares. 114,156 are owned by Advsr Ltd Llc. Hank Smith, co-chief investment officer The Haverford Trust Co., said the Radnor, Pa. -based investment firm is debating whether to reduce its roughly 2.7 million-share position. UBS maintained Wells Fargo & Co (NYSE:WFC) on Friday, October 6 with "Neutral" rating. State Of Tennessee Treasury Department reported 0.87% in Wells Fargo & Co (NYSE:WFC).

Since May 5, 2017, it had 1 buy, and 3 insider sales for $3.93 million activity. The fund owned 11,932 shares of the financial services provider's stock after selling 2,717 shares during the quarter. Shares slumped 3.6 percent to $53.22 at 9:54 a.m.in NY. Institutional investors own 75.12% of the company's stock. Shell Asset Management Co who had been investing in Wells Fargo Co New for a number of months, seems to be less bullish one the $276.29B market cap company. The stock increased 0.07% or $0.04 during the last trading session, reaching $55.66. About 989,811 shares traded. Wells Fargo third-quarter net tumbled 19% to $4.6 billion. It has underperformed by 7.03% the S&P500. $2.05 million worth of Wells Fargo & Co (NYSE:WFC) shares were sold by Mack Mary T.

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Applied Optoelectronics Inc (AAOI), the fiber-optic networking products provider estimated third-quarter revenues between $88 million and $89 million from the earlier estimated range of $107 million to $115 million.

Wells Fargo & Company (NYSE:WFC) is scheduled to issue its quarterly earnings data before the market opens on Friday, October 13th. PG's profit will be $2.73B for 21.33 P/E if the $1.07 EPS becomes a reality.

Analysts are expecting Wells Fargo to post per-share earnings of $1.03 for the quarter, according to Thomson Reuters.

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More notable recent Wells Fargo & Co (NYSE:WFC) news were published by: Reuters.com which released: "Senators grill Wells Fargo CEO over scandal, forced arbitration" on October 03, 2017, also Seekingalpha.com with their article: "Wells Fargo: More Public Backlash" published on September 27, 2017, Seekingalpha.com published: "Wells Fargo: Is It There Yet?" on September 11, 2017.

Wells Fargo & Company (NYSE:WFC) has seen its stock price gain, or, so far in 2017.

Among 10 analysts covering Empire Company Limited (TSE:EMP.A), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 41% are positive. The company rocked its 52-Week High of $59.99 and touched its 52-Week Low of $44.28. On Wednesday, April 26 the stock rating was maintained by Stifel Nicolaus with "Hold". Jabre Cap Partners has invested 1.14% in Wells Fargo & Co (NYSE:WFC). The rating was initiated by Barclays Capital with "Equal Weight" on Friday, September 25. Scotia Capital maintained Empire Company Limited (TSE:EMP.A) on Monday, January 16 with "Sector Perform" rating. Eight Capital upgraded the stock to "Buy" rating in Friday, September 15 report. The stock has "Buy" rating by Nomura on Thursday, September 28.

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