Wells Fargo

Wells Fargo (NYSE:WFC), AIG (NYSE:AIG) Drag Financials Down

Filed in AIG, Gold Bullion prices, Keycorp, o, RBC Capital, silver, Wells Fargo by on February 9, 2011 0 Comments

The overall financial sector in the U.S. is under downward pressure, dragged down by Wells Fargo (NYSE:WFC) and AIG (NYSE:AIG).Wells Fargo fell on the abrupt news Chief Financial Officer Howard Atkins was retiring for personal reasons. Atkins had been indispensable over the last several years to the company, and his leaving is a real blow to Wells.AIG dropped after the company announced it was

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Kellogg Upgraded to “Outperform” at Wells Fargo (K)

Cereal maker Kellogg Company ( K ) on Friday saw its rating and price target boosted on Friday by analysts at Wells Fargo. The firm said it upgraded K from “Market Perform” to “Outperform,” while boosting its valuation range from $51-$53 to $58-$60. That new target implies up to a 14% upside to the stock’s Thursday closing price of $52.52. A Wells analyst commented, “We expect Kellogg’s shares to appreciate as earnings surprise to the upside driven by a faster-than-expected recovery in its core N.A. retail cereal business. Kellogg enters 2011 with a 25% increase in new products versus 2009-2010 levels, increased investment in its supply chain, easy comparisons and list price increases already implemented to help cover surging input costs…our 2011E EPS to $3.50 from $3.40 (versus $3.46 consensus) and our 2012 estimate from $3.75 to $3.85 (versus $3.79 consensus) as a result.” Kellogg shares posted modest gains in premarket trading Friday. The Bottom Line We have been recommending shares of Kellogg ( K ) since Nov.3, 2010, when the stock was trading at $49.69. The company has a 3.08% dividend yield, based on last night’s closing stock price of $52.52. Kellogg Company ( K ) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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NYSE Euronext Upgraded to “Outpeform” at Wells Fargo (NYX)

Stock exchange operator NYSE Euronext ( NYX ) on Monday saw its rating, price target, and earnings estimates all raised by analysts at Wells Fargo. The firm said it boosted its rating on NYX from “Market Perform” to “Outperform,” while raising its valuation range from $30-32 to $40-$42. That new range implies a possible 30% upside to the stock’s Friday closing price of $32.38. A Wells Fargo analyst commented, “Following several years of infrastructure buildout and M&A, we believe NYX has improved its competitiveness and service offering. This, coupled with a more optimistic outlook for exchange volumes, positions the company to deliver better growth over the near to medium term, in our view…We are also increasing our 2012 EPS estimate to $2.95 from $2.87.” NYSE shares rose 22 cents, or +0.7%, in premarket trading Monday. The Bottom Line Shares of NYSE Euronext ( NYX ) have a 3.71% dividend yield, based on Friday’s closing stock price of $32.38. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$35 price levels. NYSE Euronext ( NYX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Procter & Gamble Started as an “Outperform” at Wells Fargo (PG)

Consumer products maker The Procter & Gamble Company ( PG ) on Thursday saw its coverage initiated with an “Outperform” rating by analysts at Wells Fargo. The firm also set a $70-73 valuation range on the stock, which implies a 7% to 12% upside to the stock’s Wednesday closing price of $65.35. A Wells Fargo analyst commented, “Our positive view within our Market Weight Household and Personal Care sector rating is based on (1) P&G’s industry leading R&D investments, (2) penetration acceleration in developing and emerging (D&E) markets (i.e., more relative runway vs. competitors), and (3) leveraging both scale and financial strength to grow earnings. Near-term gross margin should be restrained by rising input costs. Long-term gross/op margin expansion should be driven by ongoing cost savings initiatives, improving business/product mix, and leveraging distribution expansion…Our FY ’11/’12 EPS estimates of $3.98/$4.39.” Procter & Gamble shares were mostly flat in premarket trading Thursday. The Bottom Line We have been recommending shares of Procter & Gamble ( PG ) since Sept.1, 2009, when the stock was trading at $54.11. The company has a 2.95% dividend yield, based on last night’s closing stock price of $65.35. The Procter & Gamble Company ( PG ) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Wells Fargo’s Q4 Net Jumps 21%, Matching View (WFC)

Filed in Cisco, dividend, Gold, Gold Bullion prices, o, revenue, shares, Wells Fargo by on January 19, 2011 0 Comments

Banking giant Wells Fargo & Company ( WFC ) on Wednesday posted a 21% gain in fourth quarter profit, matching analyst estimates. The San Francisco-based company reported fiscal fourth quarter net income of $3.41 billion, or 61 cents per share, compared with $2.82 billion, or 8 cents per share, in the year-ago period. Revenue fell 5% from last year to $21.49 billion. On average, Wall Street analysts expected a matching profit of 61 cents per share, on lower revenue of $21 billion. Wells Fargo shares fell 19 cents, or -0.6%, in premarket trading Wednesday. The Bottom Line Shares of Wells Fargo ( WFC ) have a .62% dividend yield, based on last night’s closing stock price of $32.49. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34 price level. Wells Fargo & Company ( WFC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Market Wrap-Up for Jan.14 (JPM, PNC, STT, GS, NEM, MEE, GE, more)

As I progress through my early 40′s, I like to think back to how I approached money in my earlier years. Being an entrepreneur, there is always a constant need to invest in your business and in yourself. That said, I still regret not being more proactive when it came to thinking about long-term wealth and financial security. The beauty of compound interest (which dividend stocks are great at providing when you re-invest those dividends) is something to marvel at when you start tabulating the numbers. You can use our Compounding Interest Calculator to measure your hypothetical rate of return, based on the number of years and amount of money you invest. Of course, getting married, having kids, and buying a home can put quite a dent in your best-laid plans. What was Mike Tyson’s famous line? I believe it was “Everyone has a plan until they get punched in the face.” Now I’m not trying to liken a boxing match to your family life, but the fact remains that the expenses you incur in adulthood can take quite a toll on your financial goals. Some investors are now in a position of making up for lost time, scrambling to start or build their retirement nest egg at a later stage in their lives than they’d prefer. The way I see it, the solution to this problem is simple: put more money each month to work for you. Some things you learn with age, and when it comes to money, most of us don’t start to really appreciate the power it has in our lives until we look up at the scoreboard and realize we’ve lost some initial ground. The key word I used there is “initial”, because it is NEVER too late to come back and make a difference. My dad had a barber friend who bought his first house at 77 years old! That’s the way you have to look at life. Never stop trying to achieve your goals, no matter how late you are in the game. I don’t care if all you can afford is $25 a month to start investing. Pick an online broker and get an account open if you don’t have one already. If you’re employed, set up an IRA and fund it with the maximum contribution you can make every year. And if you have kids, get a Coverdell Education Savings Account started for each of them and fund those as well. If your employer matches your 401k contributions, then do that too! Do whatever you can to make it happen. In time, you’ll look back …

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Wells Fargo (NYSE:WFC), US Bancorp (NYSE:USB) Lose Foreclosure Case – Ramifications?

Filed in Gold Bullion prices, o, ubs, Wells Fargo by on January 7, 2011 0 Comments

Massachusetts’ highest court told Wells Fargo (NYSE:WFC) and US Bancorp (NYSE:UBS) their seizure of two homes wouldn’t be allowed after they failed to prove they owned the mortgages at the time of the seizure. The court effectively voided the seizure of the two homes, generating possible ramifications across the U.S. market concerning foreclosures. What this basically does is slow down the

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Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Goldman (NYSE:GS), Wells (NYSE:WFC) Getting Mortgage Securitization Scrutiny from…

Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC), among others, are receiving new attention from the Securities and Exchange Commission over mortgage foreclosures, specifically in the area of the early part of mortgage securitization. The banks received subpoenas recently in regard to the new investigation. Information being

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