Wells Fargo faces $1 billion penalty for mortgage, auto business misdeeds

Wells Fargo faces $1 billion fine to settle loan abuses

Wells Fargo faces another huge fine for auto, mortgage issues

The announcement of fresh action from regulators comes after Wells Fargo past year disclosed problematic practices involving auto insurance and mortgage products.

Wells Fargo's statement said the talks with federal regulators have also focused on the bank's overall "compliance risk management program". We returned $4.0 billion to shareholders through common stock dividends and net share repurchases in the first quarter, up 30% from a year ago.

A Wells Fargo branch in the Chicago suburb of Evanston Illinois Thomson Reuters NEW YORK (Reuters) - Wells Fargo & Co, the No. 3 USA lender by assets, has no plans to stop doing business with gunmakers in light of steps outlined by rival banks, Chief Financial Officer John Shrewsberry said on Friday.

Wells Fargo & Company (NYSE:WFC) traded up 0.23% during mid-day trading on Friday, reaching $56.86. Westside Investment Management Inc. raised its position in Wells Fargo by 63.9% in the 2nd quarter. It has underperformed by 19.30% the S&P500.

Big Money Sentiment increased to 0.75 in 2017 Q4. Its down 0.45, from 1.33 in 2017Q3.

Want to see what other hedge funds are holding WFC? 138 funds bought stakes and 466 increased stakes. 221,092 were accumulated by Lombard Odier Asset Mgmt (Usa) Corporation. 13,726 are held by Needelman Asset Mngmt. After $1.40 actual earnings per share reported by Tenet Healthcare Corporation for the previous quarter, Wall Street now forecasts -101.43% negative EPS growth.

Charlotte is among cities likely to experience Wells Fargo layoffs under a plan by the company to further integrate its corporate and investment banking businesses, a top Wells executive said Friday. The bank has struggled to regain investor trust after a scandal involving an estimated 3.5 million accounts that may not have been authorized by customers. The original version of this piece can be read at https://registrarjournal.com/2018/04/13/advisory-services-network-llc-purchases-12297-shares-of-wells-fargo-wfc.html. 37,740 were reported by Miller Inv Management Limited Partnership. Yorktown Mngmt & Com Inc, a Virginia-based fund reported 32,000 shares. It worsened, as 38 investors sold THC shares while 64 reduced holdings. Guggenheim Cap Limited Liability Corporation holds 0% or 46,542 shares in its portfolio. Eqis Capital Management reported 9,898 shs or 0.03% of all its holdings.

Among 22 analysts covering Wells Fargo (NYSE:WFC), 12 have Buy rating, 3 Sell and 7 Hold. Therefore 41% are positive.

Wells Fargo & Company MN decreased its holdings in shares of Aberdeen Emrg Mkts Smlr Co Oppts Fd Inc (NYSEAMERICAN:ABE) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The company now has a consensus rating of "Hold" and an average price target of $52.91. Vining Sparks upgraded Wells Fargo & Company (NYSE:WFC) rating on Friday, April 6. In Thursday, December 21 report Keefe Bruyette & Woods maintained it with "Buy" rating and $71.0 target. The stock has "Buy" rating by Goldman Sachs on Monday, January 11. Wells Fargo & Company has a one year low of $43.55 and a one year high of $58.02. Wells Fargo & Company (NYSE:WFC) has declined 7.75% since April 13, 2017 and is downtrending. Evercore has "Outperform" rating and $64 target. The stock rating was maintained by Susquehanna with "Hold" on Sunday, February 4.

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

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