Economy

Despite woes, Wells Fargo gives CEO a $4.6 million raise

Despite woes, Wells Fargo gives CEO a $4.6 million raise

(NYSE:DDS) on Friday, August 14 with "Market Perform" rating. On Monday, April 18 the stock rating was maintained by Citigroup with "Neutral". The company was maintained on Thursday, February 8 by Jefferies. Its stock trades at 3.23 times the company's sales over the past 12 months. The stock has "Sell" rating by Deutsche Bank on Friday, May 13. The rating was downgraded by Robert W. Baird on Thursday, January 7 to "Neutral".

Wasatch Advisors Inc. increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 67.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. Barrett Asset Management LLC raised its holdings in shares of Wells Fargo & Co by 15.2% in the 2nd quarter.

Sawgrass Asset Management Llc, which manages about $3.30 billion and $2.05 billion US Long portfolio, upped its stake in Clorox Co Del Com (NYSE:CLX) by 45,220 shares to 181,740 shares, valued at $23.97M in 2017Q3, according to the filing.

The announcement comes as Wells Fargo continues to recover from a major sales scandal over unauthorized accounts that erupted in 2016 - and from revelations of new problems that have emerged since then. The stock decreased 1.06% or $0.61 during the last trading session, reaching $56.95. It also increased its holding in Magna International Inc (NYSE:MGA) by 12,800 shares in the quarter, for a total of 3.48M shares, and has risen its stake in Shaw Communications Inc (NYSE:SJR). It has underperformed by 16.70% the S&P500. After $0.97 actual earnings per share reported by Wells Fargo & Company for the previous quarter, Wall Street now forecasts 10.31% EPS growth. They expect $1.07 earnings per share, up 7.00% or $0.07 from last year's $1 per share. WFC's profit will be $5.22B for 13.35 P/E if the $1.07 EPS becomes a reality. That value represents a market adjusting for revenues that have been growing by 6.06 % on a quarterly year/year basis as of the company's last quarterly report. Booz Allen Hamilton Holdings (NYSE:BAH) was reduced too.

Among 16 analysts covering 3M (NYSE:MMM), 7 have Buy rating, 4 Sell and 5 Hold. Therefore 38% are positive.

Wells Fargo's pay ratio is toward the high end of US banks that have reported so far, according to a report Wednesday by Autonomous Research. UBS Group set a $63.00 price target on shares of Wells Fargo & Co and gave the company a "hold" rating in a research note on Monday, February 5th.

More news: Future of the Global Rigid Packaging Market - Growth, Latest Trend & Forecast 2022

Wells Fargo CEO Tim Sloan received a $2.4 million salary and stock awards worth $15 million in 2017. The Federal Reserve took unprecedented action on Wells Fargo's business in February, forcing the bank to replace four of its directors and capping its growth until the bank develops better risk-management practices. The Wisconsin-based A D Beadell Inv Counsel Incorporated has invested 1.59% in Wells Fargo & Company (NYSE:WFC). The stock has "Buy" rating by Goldman Sachs on Monday, January 11. The firm has "Buy" rating by RBC Capital Markets given on Thursday, June 22. RBC Capital Markets maintained Wells Fargo & Company (NYSE:WFC) rating on Friday, January 12. The firm earned "Neutral" rating on Friday, April 8 by JP Morgan.

Investors sentiment increased to 0.75 in 2017 Q3. Its down 0.15, from 0.88 in 2017Q2.

Several other hedge funds have also recently made changes to their positions in the company. Thomaspartners Inc who had been investing in Wells Fargo Co New for a number of months, seems to be bullish on the $280.15B market cap company. 373,620 are held by Kornitzer Capital Ks. Federated Invsts Inc Pa holds 244,465 shares or 0.04% of its portfolio. Arizona State Retirement Sys invested 0.76% in Wells Fargo & Company (NYSE:WFC). Jfs Wealth Ltd Liability Corp holds 0.1% or 6,735 shares in its portfolio. Twin Cap Mngmt invested in 0.73% or 250,940 shares. Pathstone Family Office Limited Liability reported 0.06% in Wells Fargo & Company (NYSE:WFC). Its down 50% from 600 shares, reported previously. Sarasin And Ptnrs Llp stated it has 711,991 shares or 3.01% of all its holdings. Birinyi Inc reported 15,500 shares. Suntrust Banks, a Georgia-based fund reported 6,763 shares. 241,080 were reported by Palisade Asset Management Lc. Factory Mutual Insurance Co. lifted its position in shares of Wells Fargo & Co by 1.6% during the 4th quarter. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2018/03/13/wells-fargo-co-wfc-shares-sold-by-atlantic-trust-group-llc.html.

Since November 17, 2017, it had 0 insider buys, and 1 insider sale for $292,234 activity. This stock price value and percentage change is important to traders as it shows final value of stock and how much it changed in recent trading session. (NASDAQ:MEET) valuations. The stock trades on a P/S of 1.36, which suggests that the shares are attractive compared with peers. Henry Schein, Inc. (NASDAQ:HSIC) has risen 4.05% since March 14, 2017 and is uptrending. It has underperformed by 7.29% the S&P500. The company has market cap of $7.57 billion. The firm operates through Property, and Casualty and Specialty divisions. It has a 29.81 P/E ratio. The companyƂ's stores offer a selection of merchandise, including fashion apparel for women, men, and children; accessories; cosmetics; home furnishings; and other consumer goods. Its up 0.12, from 0.71 in 2017Q2. Puzo Michael J holds 10,000 shares. Narwhal Capital Management owns 346,681 shares or 10.28% of their U.S. portfolio. Dimensional Fund Limited Partnership holds 0.85% or 35.14 million shares in its portfolio. Cornerstone Advsrs has invested 0.01% in Dave & Buster's Entertainment, Inc. (NYSE:DDS). Sei Investments stated it has 0% in Dillard's, Inc. Jones Nicole S sold 5,856 shares worth $1.12 million. 9,200 are held by Nuveen Asset Management Ltd Liability Co. The share price was last seen 0.43% higher, reaching at $2.35 on 03/13/2018. The financial services provider reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.07). Moreover, Parametrica Mgmt has 0.29% invested in Dolby Laboratories, Inc. Canandaigua State Bank & reported 53,246 shares.

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