Wells Fargo withholding top executive bonuses following scandal

Cable Hill Partners LLC increased its position in shares of Wells Fargo & Co by 10.5% in the third quarter. Acadian Asset Management LLC now owns 2,511,003 shares of the financial services provider's stock valued at $111,188,000 after buying an additional 1,240,585 shares in the last quarter. Ltd. raised its position in Wells Fargo & Company by 2.2% in the second quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider's stock worth $117,000 after buying an additional 247 shares in the last quarter. Gemmer Asset Management LLC raised its stake in shares of Wells Fargo & Company by 6.7% in the second quarter. The institutional investor owned 41,471 shares of the financial services provider's stock after selling 12,721 shares during the period. Joining Wells Fargo in the effort are the National Association of Real Estate Brokers (composed of African American real estate professionals), which has also set a homeownership aim, and two of the nation's most influential civil rights organizations, the NAACP and the National Urban League.

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On Tuesday, Wells Fargo & Co (NYSE:WFC) stock opened its trade at $57.99 and after floating in a range of $57.73 to $58.32, settled at $57.88. Stock exchanged hands with the total volume of 3.50 Million shares, as contrast to its average volume of 3.63 Million shares. The company has a 50 day moving average price of $56.23 and a 200-day moving average price of $51.18. The stock has a market capitalization of $290.33 billion, a PE ratio of 14.51 and a beta of 0.98.

Wells Fargo's settlement with regulators last September quickly turned into one of the biggest banking scandals in recent years. The company reported $0.96 EPS for the quarter, missing the analyst consensus estimate by $ -0.04. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. During the same period in the previous year, the business earned $1.03 EPS. Companys change in pay out ratio when compared to the last 5 years average pay out ratio has been 0.05. Analysts anticipate that Wells Fargo & Company will post $4.03 earnings per share for the current fiscal year.




WFC has been the subject of several recent analyst reports.

Wells Fargo & Company is a bank holding company.

"Wells Fargo's $60 billion lending goal can contribute to economic growth by making responsible homeownership possible for more African-Americans in communities across the country", Brad Blackwell, executive vice president and head of housing policy and homeownership growth strategies for Wells Fargo, said in a statement.

Wells Fargo shares were rising over 3% on Wednesday, in lockstep with a broad based market rally led by financials. Finally, Deutsche Bank AG raised their price objective on Wells Fargo & Co from $49.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, November 30th.

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