Evercore Affirms Wells Fargo (WFC) at 'But'; Q3 Results Solid, Bolstered by Credit; Sales Practice Remains in Focus
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Wells Fargo (WFC) elevated volatility expected to adjust on Q3 and outlook
October 14, 2016 8:32 AM EDTWells Fargo (NYSE: WFC) is recently up 10c to $44.85 in the premarket after chairman reporting Q3 results. October weekly call option implied volatility is at 43, October is at 27, November is at 24; compared to its 52-week range of 14 to 36.
... MoreWells Fargo (WFC) Tops Q3 EPS by 7c
October 14, 2016 8:00 AM EDTWells Fargo (NYSE: WFC) reported Q3 EPS of $1.08, $0.07 better than the analyst estimate of $1.01. Revenue for the quarter came in at $22.3 billion versus the consensus estimate of $22.22 billion.
Sales Practices Settlements
On September 8, 2016, Wells Fargo & Company reached agreements with the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the Office of the Los Angeles City Attorney, regarding allegations that some of its retail customers received products and services they did not request. The amount of the settlements, which the Company had... More
