Oppenheimer Weighs in on Wells Fargo's Q1 2018 Earnings

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Fighter jet taking off

It has outperformed by 52.19% the S&P500.

Northside Capital Management Llc increased its stake in Wells Fargo Co New (WFC) by 129.06% based on its latest 2017Q4 regulatory filing with the SEC.

Wells Fargo declared that its board has authorized a stock repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. "During the quarter, we returned more than $3 billion in capital to common shareholders which helped drive a significant improvement in earnings per share". Wells Fargo is the largest residential mortgage lender among traditional financial institutions. Wells Fargo shares were $50.89, down $1.81, or 3.4 percent.

Wells Fargo (WFC) apologized previous year for charging as many as 570,000 clients for vehicle insurance they didn't need. WFC underperformed by 19.30% the S&P 500. Coastline Tru holds 0.6% in Wells Fargo & Company (NYSE:WFC) or 65,667 shares. Therefore 41% are positive. Wells Fargo has a one year low of $49.27 and a one year high of $66.31. Wells Fargo & Company now has an average rating of "Hold" and a consensus target price of $53.11. The firm has a market cap of $253,301.77, a PE ratio of 12.38, a PEG ratio of 1.37 and a beta of 1.13. On Thursday, December 7 the rating was upgraded by Vertical Group to "Buy". As per Friday, July 7, the company rating was maintained by Stifel Nicolaus. On Monday, February 5 the firm earned "Sell" rating by J.P. Morgan. Baskin Ser stated it has 0.08% of its capital in Wells Fargo & Company (NYSE:WFC). 37 are the (NYSE:WFC)'s analyst reports since October 16, 2017 according to StockzIntelligence Inc.

The first quarter earnings season kicked off with a bang on Friday with JPMorgan Chase, Citibank, and Wells Fargo announcing their financial results for Q1 that beat market expectations. Raymond James maintained Wells Fargo & Company (NYSE:WFC) on Tuesday, August 8 with "Sell" rating. Engineers Gate Manager L P, New York-based fund reported 84,360 shares. Lincoln Capital Ltd accumulated 6,274 shares. Calumet Specialty Prod (NASDAQ:CLMT) was raised too.

Since November 17, 2017, it had 0 insider purchases, and 1 sale for $292,234 activity.

Investors sentiment decreased to 1.05 in 2017 Q4. Its up 0.02, from 0.73 in 2017Q3. It dropped, as 153 investors sold GE shares while 921 reduced holdings. Dean Assoc Llc reported 0.93% in Wells Fargo & Company (NYSE:WFC). Wells Fargo & Company (NYSE:WFC) has declined 7.75% since April 13, 2017 and is downtrending. 10,000 were accumulated by Puzo Michael J. Lincluden Management stated it has 213,375 shares. Northside Capital Management Llc bought 36,160 shares as the company's stock declined 16.98% with the market. Ironwood Ltd Liability Corp invested 0.03% of its portfolio in General Electric Company (NYSE:GE). Bradley Foster Sargent Ct holds 0.99% or 448,990 shares in its portfolio. Geode Capital Management LLC grew its stake in Wells Fargo by 1.3% during the fourth quarter. Glenmede Trust Na invested in 1.45M shares. Axa owns 1.41 million shares for 0.34% of their portfolio. Finally, Davis Selected Advisers increased its holdings in Wells Fargo by 1.4% in the third quarter. Van Den Berg Mgmt I Incorporated holds 565,301 shares. Benjamin F Edwards reported 21,386 shares. Sanctuary Wealth Advsrs Limited Liability holds 2,000 shares. It worsened, as 38 investors sold THC shares while 64 reduced holdings. Sandler O'Neill's target suggests a potential upside of 25.76% from the company's current price. Anthem Inc had 75 analyst reports since July 27, 2015 according to SRatingsIntel. The stock of Five Below, Inc.

Banks are expected to be major beneficiaries of the tax overhaul, which sharply lowered corporate tax rates. KeyBanc Capital Markets downgraded the shares of FIVE in report on Wednesday, June 14 to "Sector Weight" rating. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company's stock. In Monday, February 5 report Robert W. Baird maintained it with "Buy" rating and $62.0 target.

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