Wells Fargo ups sales practices settlement to $142 million

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Dimensional Fund Advisors LP raised its stake in shares of Wells Fargo & Company by 13.8% in the second quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider's stock valued at $112,000 after buying an additional 900 shares during the last quarter. Vantage Investment Partners LLC raised its stake in shares of Wells Fargo & Company by 188.2% in the third quarter. Laurel Grove Capital LLC now owns 68,385 shares of the financial services provider's stock worth $3,028,000 after buying an additional 4,184 shares in the last quarter. Northwest Investment Counselors LLC boosted its position in shares of Wells Fargo & Co by 2.2% in the third quarter. Institutional investors own 73.25% of the company's stock.

The bank's agreement to the new terms comes just ahead of the company's annual shareholder meeting, which is to be held at a Florida resort on Tuesday. The brokerage presently has a "buy" rating on the financial services provider's stock. Vetr downgraded Wells Fargo & Co from a "sell" rating to a "strong sell" rating and set a $48.64 price objective on the stock.in a report on Monday, December 26th.

In addition to Get College Ready, Wells Fargo has developed other free online resources to help students and families plan and prepare for college, including Wells Fargo College Planning Blog, Wells Fargo Student Center, CollegeSTEPS, and How to Pay for College in 5 Steps - all which can be found on the Get College Ready site.

Wells Fargo's approach to CSR reflects the company's longstanding commitment to strengthening and delivering practical solutions for the customers and communities it serves. The firm has a market cap of $267.33 billion, a PE ratio of 13.38 and a beta of 0.98. Wells Fargo & Co has a 52 week low of $43.55 and a 52 week high of $59.99.

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Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Thursday, April 13th. The company earned $22 billion during the quarter, compared to the consensus estimate of $22.25 billion. Wells Fargo & Co also saw some unusual options trading on Thursday.

Among other accomplishments, previous year the company invested $17.6 billion in financing for clean technology and other environmentally sustainable businesses; $38 million in grants and lending capital to help diverse small business grow; $49 billion in new mortgages for minority and low- and moderate-income households; $50 million in the Neighborhood LIFT® program; and $281.3 million in grants to 14,500 nonprofits. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, analysts predict that Wells Fargo & Co will post $4.19 earnings per share for the current fiscal year.

WFC has been the subject of several other research reports. The ex-dividend date of this dividend is Wednesday, February 1st. But right now, the Wells Fargo coach is deep in a ditch in need of some serious repairs. Susquehanna Bancshares Inc restated a hold rating on shares of Wells Fargo & Co in a report on Wednesday, January 11th. Finally, Guggenheim downgraded shares of Wells Fargo & Co from a "buy" rating to a "neutral" rating in a research note on Wednesday, December 28th.

Wells Fargo said it expects the settlement in the Northern District of California to resolve claims in 11 other pending class action lawsuits. Wells Fargo's 2016 CSR Interim Report, released today, details the company's performance and progress in addressing three areas of strategic focus: advancing diversity and social inclusion, creating economic opportunities in underserved communities, and accelerating the transition to a lower-carbon economy and a healthier planet. Also, insider David M. Carroll sold 117,704 shares of the firm's stock in a transaction on Friday, March 3rd. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of "Hold" and an average target price of $53.11. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance.

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