Wells Fargo and BofA Release Financial Results

Gladys Abbott
October 14, 2017

About shares traded. Sequans Communications SA ADR (NYSE:SQNS) has risen 90.48% since October 13, 2016 and is uptrending.

Indirect loan net charge-offs were up 49% during the quarter to $198 million, largely driven by a "moratorium" on the repossession of borrowers vehicles who have been impacted by the bank's forced-insurance policy, according to Wells Fargo's earnings report. Seven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company.

Net income in the quarter plunged 8.2% to $100.4 million or 91 cents per diluted share from $109.4 million or 97 cents in the same quarter previous year.

Wells, the third-largest US bank by assets, said its third-quarter profit fell 19 percent, mostly because of a $1 billion provision for a mortgage settlement over accusations dating to before 2008. The stock declined 0.42% or $0.44 reaching $104.98 on the news. The total number of shares traded in the last 90-day period is 43,527. Jabre Cap Partners has invested 1.14% in Wells Fargo & Co (NYSE:WFC). It has underperformed by 7.03% the S&P500. (NYSE:CAT) news were published by: Reuters.com which released: "BRIEF-Caterpillar Inc - Jon Huntsman Jr.to resign as boardmember ​" on October 02, 2017, also Seekingalpha.com with their article: "Caterpillar Finally Has A Tailwind" published on September 20, 2017, Seekingalpha.com published: "Caterpillar: A Frank Discussion" on September 18, 2017.

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Investors sentiment increased to 0.88 in Q2 2017. Its down 0.09, from 1.3 in 2017Q1.

The bank's shares dropped 3.7 percent to $53.19 as investors digested the results. 60 funds opened positions while 172 raised stakes. Shares for $1.34 million were sold by Pelos Petros G.

Another report showed consumer prices recorded their biggest increase in eight months last month as gasoline prices soared in the wake of hurricane-related production disruptions. Given that its average daily volume over the 30 days has been 17.27M shares a day, this signifies a pretty significant change over the norm. Calamos Ltd Co holds 0.03% or 127,695 shares. Court Place Ltd Limited Liability Company invested 3.04% of its portfolio in Procter & Gamble Co (NYSE:PG). Barclays Public Ltd Co owns 2.80 million shares. Davenport And holds 1.25M shares or 0% of its portfolio. (NYSE:CAT) for 26,554 shares. Tci Wealth Advsrs, Arizona-based fund reported 15,034 shares. Moreover, Gemmer Asset Mgmt Limited has 0.36% invested in Procter & Gamble Co (NYSE:PG) for 9,835 shares. Finance Corporation accumulated 0.02% or 1,200 shares. Brandywine Global Investment Mngmt Ltd Liability Com holds 4.53 million shares. 168,233 were accumulated by Private Advisor Gp Lc. (NYSE:FE). Grantham Mayo Van Otterloo & Limited Liability holds 444,200 shares. (NYSE:CAT). Lodge Hill Ltd Liability has invested 3.67% in Caterpillar Inc. The current consensus recommendation provided by covering analysts is 2.10. Therefore 50% are positive. Credit Suisse maintained Caterpillar Inc. As per Monday, October 19, the company rating was upgraded by Goldman Sachs. The firm earned "Hold" rating on Wednesday, April 12 by Sandler O'Neill. The company was maintained on Thursday, June 22 by RBC Capital Markets. As per Friday, April 28, the company rating was maintained by Vining Sparks. The stock of Caterpillar Inc. The firm has "Buy" rating given on Thursday, September 22 by Deutsche Bank. As per Tuesday, October 4, the company rating was downgraded by Raymond James. UBS reinitiated it with "Neutral" rating and $58 target in Wednesday, January 11 report. Beacon Fincl Grp reported 243,745 shares stake. Meag Munich Ergo Kapitalanlagegesellschaft Mbh holds 458,730 shares or 0.59% of its portfolio.

Wells Fargo & Company (NYSE:WFC)'s performance this year to date is 0.18%.

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