Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy.
Wells Fargo's annual shareholders meeting is being held near Jacksonville, Florida. Finally, FBR & Co reaffirmed a "market perform" rating and set a $55.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 17th. Adams Asset Advisors LLC acquired a new position in Wells Fargo & Co during the third quarter valued at approximately $3,675,000. Wells Fargo & Co has an average rating of "Hold" and an average target price of $53.96. Wells Fargo & Co's revenue for the quarter was up.0% on a year-over-year basis. Wells Fargo & Co has a 12 month low of $43.55 and a 12 month high of $59.99.
In one case, a small-business owner tells the WSJ that he agreed to sign up with Wells Fargo's service after the company waived a $400 fee and agreed to only charge a 1.5% transaction fee plus a small per-swipe charge.
WARNING: "Marshall Wace LLP Purchases Shares of 213,367 Wells Fargo & Co (WFC)" was originally published by Chaffey Breeze and is the property of of Chaffey Breeze.
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Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. raised its position in Wells Fargo & Co by 14.9% in the third quarter. Evercore ISI reaffirmed a "buy" rating and set a $51.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 11th. The share price of the stock surged 1.09% for the year. For the quarter, shares have been noted at 1.03%. The business had revenue of $21.60 billion for the quarter. The stock presently has a consensus rating of "Hold" and a consensus price target of $53.96. The Company's shares are trading -22.36% below their 50-day moving average and -52.56% below their 200-day moving average. Community Bank N.A. now owns 47,150 shares of the financial services provider's stock valued at $2,087,000 after buying an additional 6,110 shares during the last quarter. The original version of this piece can be read at [[permalink]]. The Company is a diversified financial services company. Finally, Standard Life Investments LTD increased its position in shares of Wells Fargo & Co by 11.1% in the third quarter. Genesee Valley Trust Co. now owns 36,599 shares of the financial services provider's stock worth $1,621,000 after buying an additional 3,429 shares during the period.
Additionally, last fall the bank restructured the Merchant Services unit to reduce incentives by preventing teams from competing against each other for small business sales and named a new executive to oversee small business for merchant services. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Wells Fargo's Merchant Services division helps businesses handle credit and debit card transactions. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.