Wells Fargo Won't Pay $32M In Bonuses & Equity To Top Execs

"As we conclude celebrating 2017 Black History Month, it is aspirational for Wells Fargo to offer $60 billion in loan accessibility specifically for African-Americans who want to purchase and own a home". The company has a market cap of $281.25 billion, a PE ratio of 13.90 and a beta of 0.99. Finally, Bellwether Investment Group LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $186,000. The company has a 50 day moving average price of $56.23 and a 200-day moving average price of $51.18.

"The company has self identified an issue whereby certain foreign banks utilized a Wells Fargo software based solution to conduct import/export trade-related financing transactions with countries and entities prohibited by the Office of Foreign Assets Control ("OFAC") of the United States Department of the Treasury", the banking giant stated in the regulatory filing. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.04. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. The firm's revenue for the quarter was up.0% compared to the same quarter a year ago. Shareholders of record on Friday, February 3rd will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.63%. Wells Fargo & Co's dividend payout ratio (DPR) is 38.10%. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and global trademark & copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2017/03/01/pitcairn-co-has-2285000-position-in-wells-fargo-co-wfc.html.

WFC has been the subject of several recent analyst reports.


The company's commitment is a direct action to assist address the lower homeownership rates in the African American community and follows Wells Fargo's declarement to address Hispanic homeownership rates in 2015.

WFC stock's price is now -1.91% down from its 52-week high and +34.92% up from its 52-week low. Finally, Zacks Investment Research raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $63.00 price target on the stock in a research note on Thursday, December 29th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and a consensus price target of $53.04.

"I fully support the board's actions and believe they are critical to Wells Fargo's commitment to our customers", Sloan, who was named chief executive after the resignation of John Stumpf at the height of the scandal previous year, said in a statement.

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