What Will The Effects of a Macquarie Downgrade Be For Wells Fargo (NYSE:WFC) Shares?

September 8, 2018 - By Mark Babin

Wells Fargo & Company (NYSE:WFC) Logo

Investors sentiment decreased to 0.59 in Q1 2018. 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.

Capital World Invsts holds 2.02% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 171.13 million shares. Cibc Markets Corp has 1.02% invested in Wells Fargo & Company (NYSE:WFC). 26,254 are owned by Webster State Bank N A. Northpointe Cap Lc accumulated 64,975 shares. Reinhart Prtn Incorporated owns 9,355 shares or 0.05% of their US portfolio. Michigan-based Ls Advsr Lc has invested 0.66% in Wells Fargo & Company (NYSE:WFC). Ubs Oconnor Ltd Liability Co has 0% invested in Wells Fargo & Company (NYSE:WFC) for 125,000 shares. Nomura Asset Management Company, Japan-based fund reported 1.28 million shares. Clean Yield holds 0.12% in Wells Fargo & Company (NYSE:WFC) or 5,467 shares. Cap Wealth Planning Lc has invested 0.29% of its portfolio in Wells Fargo & Company (NYSE:WFC). Premier Asset Mngmt Limited Liability Corp reported 18,659 shares or 0.22% of all its holdings. Roundview Cap Limited Com holds 59,380 shares or 0.88% of its portfolio. Birch Hill Advsrs Limited Liability Company has 0.45% invested in Wells Fargo & Company (NYSE:WFC). Waddell And Reed invested in 454,457 shares or 0.05% of the stock. Blume Capital Mngmt Inc holds 3.52% or 120,629 shares.

Since May 24, 2018, it had 0 insider purchases, and 2 sales for $7.27 million activity. Shares for $5.87M were sold by Modjtabai Avid on Tuesday, August 7.

Wells Fargo (NYSE:WFC) Receives a Downgrade

Macquarie lowered the rating for shares of Wells Fargo (NYSE:WFC) to aNeutral from a Outperform. The rating change was sent to clients and investors in analysts note earlier today.

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. The stock has “Market Perform” rating by BMO Capital Markets on Monday, July 16. The company was maintained on Monday, April 23 by Susquehanna. Keefe Bruyette & Woods maintained Wells Fargo & Company (NYSE:WFC) rating on Wednesday, April 4. Keefe Bruyette & Woods has “Hold” rating and $5700 target. The stock has “Hold” rating by BMO Capital Markets on Friday, April 13. The rating was upgraded by Wood on Monday, July 16 to “Outperform”. The firm has “Buy” rating given on Monday, April 16 by Buckingham Research. The stock has “Outperform” rating by Macquarie Research on Monday, April 30. On Monday, April 16 the stock rating was maintained by Barclays Capital with “Overweight”. Susquehanna maintained the shares of WFC in report on Friday, April 13 with “Hold” rating. As per Monday, April 30, the company rating was upgraded by Keefe Bruyette & Woods.

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 $5.63B 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: “By Blanca Torres – Reporter, San Francisco Business Times” on September 07, 2018, also Bizjournals.com published article titled: “Wells Fargo faces questions on gender ratios in executive positions”, Bizjournals.com published: “Wells Fargo lays off 137 from Orlando mortgage operations” on August 23, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) was released by: Benzinga.com and their article: “Macquarie Downgrades Wells Fargo, Comerica, Sees Peak Bank Margins Ahead” with publication date: September 07, 2018.

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

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