Tag: 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

Continue Reading »

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 .

Continue Reading »

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 .

Continue Reading »

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 .

Continue Reading »

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 .

Continue Reading »

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

Continue Reading »

Broadcom Downgraded to “Market Perform” at Wells Fargo (BRCM)

Filed in dividend, downgrade, Gold Bullion prices, o, outperform, shares by on December 3, 2010 0 Comments

Wireless chipmaker Broadcom Corporation ( BRCM ) on Friday caught a downgrade from analysts at Wells Fargo on a valuation call. The firm said it downgraded BRCM from “Outperform” to “Market Perform,” but boosted its Valuation Range to $42-$51 from $40-$45. Broadcom shares closed at $46.55 on Thursday. A Wells analyst commented, “Broadcom has built up over the years what we consider to be an impressive base of logic and mixed signal expertise associated with communications semiconductors. We think Broadcom’s vast communications product portfolio offers good engineering and marketing synergies between many of the product lines. However, in our view, the positive attributes of the company are already reflected in Broadcom’s stock price.” Broadcom shares fell 78 cents, or -1.7%, in premarket trading Friday. The Bottom Line Shares of Broadcom ( BRCM ) have a .69% dividend yield, based on last night’s closing stock price of $46.55. The stock has technical support in the $40 price area. If the shares can continue to uptrend, we see overhead resistance around the $49 price level. Broadcom Corporation ( BRCM ) 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 .

Continue Reading »

Wells Fargo Q3 Profit Rises, Despite Lower Revenue (WFC)

Filed in dividend, Gold, Gold Investing, shares by on October 20, 2010 0 Comments
Wells Fargo Q3 Profit Rises, Despite Lower Revenue (WFC)

Banking giant Wells Fargo & Company ( WFC ) on Wednesday said its third quarter profit rose 3% from last year, although its revenue dipped 7% and narrowly missed analyst expectations. The San Francisco-based company reported third quarter net income of $3.34 billion, or 60 cents per share, compared with $3.24 billion, or 56 cents per share, in the year-ago period. Revenue fell 7.1% from last year, however, to $20.87 billion. On average, Wall Street analysts expected a smaller profit of 55 cents per share, but on slightly higher revenue of $20.98 billion. Wells Fargo shares fell 38 cents, or -1.6%, in premarket trading Wednesday. The Bottom Line Shares of Wells Fargo ( WFC ) have a .81% dividend yield, based on last night’s closing stock price of $24.55. The stock has technical support in the $20-$21 price area. If the shares can firm up, we see overhead resistance around the $26-$28 price levels. Wells Fargo & Company ( WFC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 .

Continue Reading »

Zacks Analyst Blog Highlights: Citigroup, JPMorgan Chase, Morgan Stanley, UBS AG and Wells Fargo – Press Releases

Filed in citigroup, Gold Prices, ubs by on October 4, 2010 0 Comments

Zacks Analyst Blog Highlights: Citigroup, JPMorgan Chase, Morgan Stanley, UBS AG and Wells Fargo

Continue Reading »

Zacks Analyst Blog Highlights: Barclays, Bank of America, Wells Fargo, Goldman Sachs Group and Citigroup – Press Releases

Filed in bank of america, barclays, citigroup, Gold, goldman sachs, silver by on October 4, 2010 0 Comments

Zacks Analyst Blog Highlights: Barclays, Bank of America, Wells Fargo, Goldman Sachs Group and Citigroup

Continue Reading »

Wells Fargo Downgrades Union Pacific and Norfolk Southern (UNP, NSC)

Filed in dividend, earnings, Gold, Gold Bullion prices, outperform, shares by on October 1, 2010 0 Comments
Wells Fargo Downgrades Union Pacific and Norfolk Southern (UNP, NSC)

Analysts at Wells Fargo on Friday cut their rating on railroad operators Norfolk Southern Corp. ( NSC ) and Union Pacific Corporation ( UNP ) , noting the stocks are fully-valued at current levels. The firm cut its rating on both stocks to “Market Perform” from “Outperform.” A Wells Fargo analyst commented, “Our Thesis has been that a cyclical recovery in volumes coupled with productivity inspired cost savings would enable the rails to achieve strong earnings growth in 2010 and 2011. We believe this is still the case, although largely reflected in estimates and the shares. We do not expect the “stair-step” upward estimate revisions that we saw earlier this year as Street expectations have increased, and the margin story and productivity gains have become better understood. NSC and UNP shares are both near our unchanged 6-12 month Valuation Ranges of $61-66 and $83-89, respectively.” Both Norfolk Southern Corp. ( NSC ) and Union Pacific Corporation ( UNP ) shares were mostly flat in premarket trading Friday. The Bottom Line Shares of Norfolk Southern ( NSC ) have a 2.42% dividend yield, based on last night’s closing stock price of $59.51. Shares of Union Pacific ( UNP ) have a 1.61% dividend yield, based on last night’s closing stock price of $81.80. Both Norfolk Southern Corp. ( NSC ) and Union Pacific Corporation ( UNP ) are currently rated “Neutral,” holding Dividend.com DARS™ Ratings 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 .

Continue Reading »

Bank on Preferreds: Bank America and Wells Fargo

Filed in Bank Gold, bank of america, Debt by on September 14, 2010 0 Comments
Bank on Preferreds: Bank America and Wells Fargo

Filed under: Newsletters , Stocks to Buy “As a result of the Financial Reform Act, certain trust preferreds can offer investment-grade safety, robust yields of around 6-7%, and capital gains potential,” suggests Carla Pasternak . The editor of High Yield Investing explains, “Among our top picks in this group are Bank of America Capital Trust IV, 5 7/8% Capital Securities ( BAC-U ) and Wells Fargo Capital IX 5.625% Trust Preferred Securities ( JWF ). “Traditional preferreds are an equity investment in a company. They are normally perpetual — that is, they have no maturity date. In contrast, trust preferreds are debt, not equity. As such, they provide greater safety than traditional preferred stock. Continue reading Bank on Preferreds: Bank America and Wells Fargo Bank on Preferreds: Bank America and Wells Fargo originally appeared on BloggingStocks on Tue, 14 Sep 2010 11:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Continue Reading »