JPMorgan Chase, Citi, and Wells Fargo Announce Q1 Earnings

JPMorgan Chase, Citi, and Wells Fargo Announce Q1 Earnings

Ims Capital Management increased its stake in Wells Fargo & Co New (WFC) by 331% based on its latest 2017Q4 regulatory filing with the SEC.

In February, the Federal Reserve handed down unprecedented punishment to Wells Fargo for what it called "widespread consumer abuses", including its creation of as many as 3.5 million fake customer accounts. Telos Cap Mgmt accumulated 0.08% or 3,904 shares.

Rising interest rates helped JPMorgan Chase and Citigroup, but not Wells Fargo, which continues to struggle under the weight of several scandals and investigations. The stock decreased 3.26% or $1.72 during the last trading session, reaching $50.98. The stock was bought at an average cost of $55.98 per share, with a total value of $503,820.00. Virginia-based Hendershot Invests has invested 0.11% in Wells Fargo & Company (NYSE:WFC). It has underperformed by 19.30% the S&P500. Argus downgraded shares of Wells Fargo & Company from a "buy" rating to a "hold" rating and boosted their price objective for the company from $53.00 to $53.78 in a report on Wednesday, January 18th. Therefore 29% are positive.

Wells Fargo has been accused of steering minority borrowers into loans they could not afford, resulting in higher fees, defaults and foreclosures than for white borrowers, and rewarding employees with bonuses for offering such loans. The average target $65.09 is 27.90% above the last ($50.89) price. Wells Fargo had 37 analyst reports since October 16, 2017 according to SRatingsIntel. The firm has "Sell" rating given on Thursday, September 15 by UBS. The firm has "Buy" rating by RBC Capital Markets given on Friday, January 12. On Thursday, December 7 the rating was upgraded by Vertical Group to "Buy". The rating was maintained by Robert W. Baird on Tuesday, September 5 with "Buy". The rating was downgraded by JP Morgan to "Underweight" on Monday, February 5.

Wells Fargo (NYSE:WFC) last posted its quarterly earnings results on Friday, April 13th. The firm earned "Hold" rating on Friday, July 7 by Jefferies. Boston Family Office Llc reported 18,553 shares stake. Calumet Specialty Prod (NASDAQ:CLMT) was raised too.

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

Investors sentiment increased to 0.75 in Q4 2017. It improved, as 63 investors sold Wells Fargo & Company shares while 746 reduced holdings.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Management reported 0.14% in Wells Fargo & Company (NYSE:WFC). Finally, Vetr upgraded shares of Wells Fargo from a "strong sell" rating to a "sell" rating and set a $54.78 price objective for the company in a research report on Monday, February 5th. 10,000 were accumulated by Puzo Michael J. Lincluden Management stated it has 213,375 shares. Meridian Investment Counsel Inc. now owns 17,895 shares of the financial services provider's stock worth $992,000 after buying an additional 200 shares during the last quarter. Mutual Of America Cap Ltd Limited Liability Company owns 177,123 shares or 0.18% of their U.S. portfolio. Aperio Group Limited owns 12,764 shares for 0% of their portfolio. Glenmede Trust Na invested in 1.45M shares. Welch Cap Partners Ltd Liability Co invested 0.72% of its portfolio in Range Resources Corporation (NYSE:RRC). 230.02 million shares or 7.28% less from 248.08 million shares in 2017Q3 were reported. Western Standard LLC increased its holdings in shares of Wells Fargo by 96.8% in the third quarter. It worsened, as 38 investors sold THC shares while 64 reduced holdings. The result was primarily driven by two factors: higher interest rates, which have allowed banks such as JPMorgan to charge more for customers to borrow, and the lower corporate tax rate. Susquehanna Bancshares' price objective suggests a potential upside of 6.11% from the stock's previous close. Since October 16, 2017 according to StockzIntelligence Inc Wells Fargo has 37 analyst reports. The stock of Five Below, Inc. The rating was maintained by BMO Capital Markets with "Hold" on Thursday, January 4.

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