What Can We Expect After Wells Fargo (NYSE:WFC)’s Downgrade By Macquarie?

September 8, 2018 - By Robert Shackelford

Wells Fargo & Company (NYSE:WFC) Logo

Investors sentiment decreased to 0.59 in 2018 Q1. Its down 0.16, from 0.75 in 2017Q4. It fall, as 108 investors sold Wells Fargo & Company shares while 790 reduced holdings. 122 funds opened positions while 412 raised stakes. 3.62 billion shares or 0.62% less from 3.64 billion shares in 2017Q4 were reported.

Walleye Trading Ltd Liability stated it has 0.07% of its portfolio in Wells Fargo & Company (NYSE:WFC). 6,920 were accumulated by Independent Order Of Foresters. Adage Partners Gp reported 5.82M shares stake. Boston Family Office Lc holds 0.08% in Wells Fargo & Company (NYSE:WFC) or 13,932 shares. Haverford holds 0.28% or 263,279 shares. Quantitative Systematic Strategies Limited Liability Com has invested 0.71% of its portfolio in Wells Fargo & Company (NYSE:WFC). Firefly Value Prns Lp reported 5.21% of its portfolio in Wells Fargo & Company (NYSE:WFC). The Colorado-based Icon Advisers has invested 0.1% in Wells Fargo & Company (NYSE:WFC). 1St Source Savings Bank stated it has 78,094 shares or 0.34% of all its holdings. Aspen Inv Mngmt Inc owns 17,150 shares. Essex Finance Serv stated it has 0.7% of its portfolio in Wells Fargo & Company (NYSE:WFC). Amica Pension Fund Board Of Trustees reported 1.39% of its portfolio in Wells Fargo & Company (NYSE:WFC). Albert D Mason owns 4,655 shares. Willow Creek Wealth Mngmt Inc has invested 0.44% in Wells Fargo & Company (NYSE:WFC). Mitchell Sinkler And Starr Pa stated it has 5,475 shares or 0.33% of all its holdings.

Since May 24, 2018, it had 0 insider purchases, and 2 sales for $7.27 million activity. Another trade for 25,567 shares valued at $1.40 million was made by Pelos Petros G on Thursday, May 24.

Wells Fargo (NYSE:WFC) Receives a Downgrade

The Rating of Wells Fargo (NYSE:WFC) shares have been decreased by Macquarie from a “Outperform” rating to a “Neutral” rating in analysts note revealed on 7 September.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 14 analysts covering Wells Fargo (NYSE:WFC), 8 have Buy rating, 0 Sell and 6 Hold. Therefore 57% are positive. Wells Fargo has $70 highest and $5400 lowest target. $61.21’s average target is 6.64% above currents $57.4 stock price. Wells Fargo had 23 analyst reports since March 26, 2018 according to SRatingsIntel. BMO Capital Markets maintained Wells Fargo & Company (NYSE:WFC) rating on Friday, April 13. BMO Capital Markets has “Hold” rating and $5700 target. The stock of Wells Fargo & Company (NYSE:WFC) has “Outperform” rating given on Monday, July 16 by Wood. The firm earned “Outperform” rating on Monday, April 30 by Macquarie Research. The stock of Wells Fargo & Company (NYSE:WFC) earned “Equal-Weight” rating by Morgan Stanley on Monday, July 2. The firm has “Hold” rating given on Sunday, April 15 by Piper Jaffray. The firm has “Hold” rating by Susquehanna given on Monday, April 23. The rating was maintained by Sandler O’Neill with “Buy” on Thursday, March 29. The rating was downgraded by Macquarie Research to “Neutral” on Friday, September 7. On Monday, April 30 the stock rating was maintained by Morgan Stanley with “Underweight”. Barclays Capital maintained the shares of WFC in report on Monday, April 16 with “Overweight” rating.

The stock decreased 0.91% or $0.53 during the last trading session, reaching $57.4. About 21.48M shares traded or 15.58% up from the average. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since September 8, 2017 and is uptrending. It has underperformed by 8.55% the S&P500.

Analysts await Wells Fargo & Company (NYSE:WFC) to report earnings on October, 12. They expect $1.17 earnings per share, up 12.50 % or $0.13 from last year’s $1.04 per share. WFC’s profit will be $5.63 billion for 12.26 P/E if the $1.17 EPS becomes a reality. After $1.08 actual earnings per share reported by Wells Fargo & Company for the previous quarter, Wall Street now forecasts 8.33 % EPS growth.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $276.45 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 14.61 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

More important recent Wells Fargo & Company (NYSE:WFC) news were published by: Bizjournals.com which released: “Wells Fargo lays off 137 from Orlando mortgage operations” on August 23, 2018, also Bizjournals.com published article titled: “Wells Fargo faces questions on gender ratios in executive positions”, Benzinga.com published: “Macquarie Downgrades Wells Fargo, Comerica, Sees Peak Bank Margins Ahead” on September 07, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) was released by: Bizjournals.com and their article: “By Blanca Torres – Reporter, San Francisco Business Times” with publication date: September 07, 2018.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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