Revenue Update on Wells Fargo & Co(NYSE:WFC)

Wells Fargo & Co(NYSE:WFC) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during Pre-market on Apr 14, 2016. Company reported revenue of $22.20B. Analysts estimated a revenue of $21.62B. Earnings per share were $0.99. Analysts had estimated an EPS of $0.98.

In a different note, UBS said it Initiates Coverage on Wells Fargo & Co, according to a research note issued on Mar 24, 2016. The shares have been rated ‘Sell’ by the firm. On Feb 11, 2016, Nomura said it Maintains its rating on Wells Fargo & Co. In the research note, the firm Lowers the price-target to $64.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jan 26, 2016, Deutsche Bank said it Maintains its rating on Wells Fargo & Co. According to the research note, Deutsche Bank Lowers the price target to $59 per share from a prior target of $60. The shares have been rated ‘Buy’ by the firm. On Jan 20, 2016, Susquehanna said it Upgrades its rating on Wells Fargo & Co. The shares have been rated ‘Positive’ by the firm. On Jan 19, 2016, Argus Research said it Maintains its rating on Wells Fargo & Co. According to the research note, Argus Research Lowers the price target to $58 per share from a prior target of $63. The shares have been rated ‘Buy’ by the firm. On Jan 19, 2016, Credit Suisse said it Maintains its rating on Wells Fargo & Co. According to the research note, Credit Suisse Raises the price target to $62 per share from a prior target of $48.82. The shares have been rated ‘Outperform’ by the firm.

Wells Fargo & Co (WFC) made into the market gainers list on Mondays trading session with the shares advancing 1.22% or 0.59 points. Due to strong positive momentum, the stock ended at $48.84, which is also near the day’s high of $48.88. The stock began the session at $47.97 and the volume stood at 1,82,25,836 shares. The 52-week high of the shares is $58.765 and the 52 week low is $44.5. The company has a current market capitalization of $247,947 M and it has 5,07,67,12,400 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, Lloyd H Dean (director) sold 2,210 shares at $49.93 per share price.Also, On Mar 11, 2016, Timothy J Sloan (President & COO) sold 10,000 shares at $48.16 per share price.On Dec 11, 2015, John G Stumpf (Chairman & CEO) sold 30,000 shares at $53.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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