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In the latest episode of the award-winning podcast "Compliance into the Weeds," hosts Tom Fox and Matt Kelly examine the settlement of charges by the OCC against two former top audit executives at Wells Fargo. The discussion focuses on their oversight failures linked to the bank's fake accounts scandal, providing critical insights into compliance issues.
Wells Fargo analyst Michael Brown has raised the price target for KKR from $120 to $136, maintaining an "Overweight" rating, reflecting confidence in the company's growth. Analysts project an average target price of $143.68, indicating a potential upside of 22.53% from the current price of $117.26. However, GuruFocus estimates a fair value of $53.54, suggesting a significant downside of 54.34%.
Wells Fargo analyst Zachary Fadem has lowered the price target for Floor & Decor Holdings (FND) from $80 to $75 while maintaining an "Overweight" rating, indicating expected outperformance in the sector. The average one-year price target from 23 analysts is $90.84, suggesting a potential upside of 20.82% from the current price of $75.19. Additionally, GuruFocus estimates a fair value of $114.83 for the stock, indicating a possible upside of 52.72%.
Wells Fargo analyst Neil Kalton has raised the price target for Southern Company (SO) from $95.00 to $99.00, reflecting a 4.21% increase, while maintaining an "Equal-Weight" rating. The average target price from 16 analysts is $93.77, indicating a potential upside of 2.98% from the current price of $91.06. However, GuruFocus estimates a fair value of $75.99, suggesting a downside of 16.55%.
Wells Fargo (NYSE: WFC) is experiencing a surge in options trading, with significant bullish sentiment from deep-pocketed investors, as indicated by 27 extraordinary options activities. Analysts maintain strong ratings, with targets ranging from $75 to $87, while the stock is currently trading at $73.98, up 3.02%. The anticipated price movement for the next three months is projected between $57.5 and $80.
Wells Fargo has raised its price target for Eversource Energy to $79 from $75 while maintaining an overweight rating. Eversource specializes in electricity and natural gas distribution across Connecticut, Massachusetts, and New Hampshire, with 59.6% of its net sales coming from electricity distribution. In 2024, the company is projected to sell 51,323 GWh of electricity and distribute 4 billion cubic meters of natural gas.
Wells Fargo Advisors has recruited a UBS Wealth Management team in Bellevue, Washington, generating $6.7 million in annual revenue and managing $800 million in client assets. The Legacy Investment Consulting Group, led by Brett T. Williams and others, marks a notable addition amid UBS's ongoing broker attrition, which has seen a 3% decrease in headcount in the Americas. This move follows Wells Fargo's aggressive recruiting strategy, having recently attracted several high-revenue teams from competing firms.
Easyplant has opened at 334 Columbus Avenue, offering self-watering plants with a hidden reservoir, and will celebrate with a family-friendly event on May 4. Wells Fargo launched a new branch at 2275 Broadway, marking its fourth opening in New York this year, featuring innovative digital services. The Cutting District barbershop at 265 Columbus Avenue has received rave reviews, while Kine Musubi plans to open in August, specializing in Hawaiian musubi snacks.
In April 2025, two former Wells Fargo executives involved in a fake accounts scandal saw their fines drastically reduced from $8.5 million to $150,000 after the Electronic Payments Coalition donated $1 million to Donald Trump's inauguration. While the donation is confirmed, no evidence links it to the fine reduction, and multiple requests for comment from involved parties went unanswered. The scandal, which began in 2016, involved the creation of unauthorized accounts to meet sales targets, leading to significant penalties for the bank and its executives.
Plans are underway to convert two former Wells Fargo buildings in downtown Des Moines into a hotel and meeting space, part of a larger sale of five buildings expected in 2025. The 11-story building at 206 Eighth St. will become a 170-room hotel with a restaurant, while the three-story building at 207 Ninth St. will be transformed into meeting space and a spa. The project aims to address the demand for larger hotel accommodations in the area, particularly for conventions.
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