US Fed Caps Wells Fargo's Assets in 'Unprecedented' Move

Alicia Cross
February 4, 2018

The Bright Rock Capital Management Llc holds 174,000 shares with $9.60M value, up from 156,000 last quarter. Wells Fargo & Co makes up approximately 3.4% of Equity Investment Corp's portfolio, making the stock its 9th biggest holding. (NYSE:WMT). The stock saw a move of -0.99% during the latest trading session. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60.

The Federal Reserve Board said in a statement that it would restrict the growth of Wells Fargo, the country's third-largest lender with $1.95 trillion in assets as of the end of 2017, "until it sufficiently improves its governance and controls". It has underperformed by 7.03% the S&P500. The institutional investor held 142,431 shares of the telecommunications equipment company at the end of 2017Q3, valued at $7.05M, up from 123,528 at the end of the previous reported quarter. The company's quarterly revenue was up 2.2% on a year-over-year basis. analysts anticipate that Wells Fargo & Co will post 4.74 earnings per share for the current fiscal year. The stock decreased 0.35% or $0.67 during the last trading session, reaching $190.31. About 4.21M shares traded or 39.07% up from the average.

RPX Corporation provides patent risk management and discovery services in the United States, Japan, South Korea, and internationally. It has underperformed by 25.18% the S&P500. Frontier Invest Mngmt Com has 2.25% invested in Wells Fargo & Company (NYSE:WFC).

Ratings analysis reveals 47% of Wells Fargo & Company's analysts are positive. The rating was initiated by UBS on Thursday, March 24 with "Sell". Susquehanna downgraded Wells Fargo & Company (NYSE:WFC) on Thursday, December 1 to "Neutral" rating. The rating was downgraded by CLSA on Tuesday, November 8 to "Outperform". As per Wednesday, September 30, the company rating was maintained by RBC Capital Markets. BMO Capital Markets maintained The TJX Companies, Inc. The firm earned "Hold" rating on Friday, October 13 by Piper Jaffray. Also, VP Richard Levy sold 97,000 shares of the business's stock in a transaction on Thursday, November 30th. Fairview Invest Management Ltd Liability Company holds 0.05% or 14,537 shares in its portfolio. It also upped Ca Inc (NASDAQ:CA) stake by 108,895 shares and now owns 159,631 shares.

Since November 17, 2017, it had 0 insider purchases, and 1 sale for $292,234 activity. Investors of record on Friday, February 2nd will be paid a $0.39 dividend. Its up 0.01, from 0.82 in 2017Q2. It dived, as 92 investors sold WFC shares while 725 reduced holdings.

DODGE & COX raised its stake in Apache Corporation (NYSE:APA) by.05% during the September 2017 quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. Caxton Limited Partnership holds 8,500 shares or 0.02% of its portfolio. Plante Moran Fincl Advisors Limited Liability Corp holds 12,284 shares. Hudson Valley Invest Advsrs Inc Adv has invested 1.39% in Wells Fargo & Company (NYSE:WFC). Zapolsky David sold $2.30M worth of stock or 2,334 shares. The California-based Sanctuary Wealth Ltd Company has invested 0.09% in Wells Fargo & Company (NYSE:WFC). 68,152 were accumulated by Wilbanks Smith & Thomas Asset Mgmt Limited Liability. 116,350 are owned by Fund.

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Thompson Davis invested 0.11% of its portfolio in Eli Lilly and Company (NYSE: LLY ). 61,834 were reported by Dowling Yahnke Llc. It increased, as 53 investors sold CMCSA shares while 517 reduced holdings. 66 funds opened positions while 176 raised stakes.

Wells Fargo & Company (WFC) has the market capitalization of $323.52 Billion. Miles holds 4,013 shares or 0.13% of its portfolio. Stock buyback programs are often a sign that the company's management believes its shares are undervalued. Therefore 36% are positive. Morneau Shepell Inc had 9 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of Verizon Communications Inc. Deutsche Bank maintained The TJX Companies, Inc. Jefferies maintained the shares of NWSA in report on Monday, October 16 with "Buy" rating. The firm has "Buy" rating by Jefferies given on Monday, June 26. The stock has "Buy" rating by Nomura on Wednesday, January 17. Robert W. Baird maintained the stock with "Hold" rating in Friday, October 27 report. The ex-dividend date of this dividend is Thursday, February 1st.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th.

Additionally, the bank's salary incentive practices at the time, along with pressure by some bank managers, prodded Wells Fargo employees to open the accounts.

Since August 28, 2017, it had 0 insider buys, and 3 insider sales for $89,365 activity.

Investors sentiment decreased to 1.02 in Q3 2017. (RGLS) stock brought in a $0.01 rise to $1.2. It dropped, as 59 investors sold TJX shares while 374 reduced holdings. 107 funds opened positions while 619 raised stakes. 451.38 million shares or 0.77% more from 447.95 million shares in 2017Q2 were reported. Signaturefd Ltd Llc holds 0.14% or 18,497 shares. Peoples Svcs has invested 0.75% in Cisco Systems, Inc. Lvw Advsr Ltd owns 74,918 shares. Thrivent Finance For Lutherans holds 0% of its portfolio in Morneau Shepell Inc.

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