Wells Fargo & Co
Article Abstract:
Warren Buffett invested another $37 million on Wells Fargo and Co, thus, increasing his stakes from 10.8 to 11.8%. The stock purchase, however, failed to foster optimism about the firm. Earnings for the Sep 1992 quarter stood at a minimal 21 cents per share while non-performing loans rose to $2.4 billion. There is pessimism whether the company can preserve its quarterly dividends after it sustained a 24-cent operating loss for the Sep 1992 quarter. Some analysts are not even encouraged by positive developments on net interest margins and capital ratios.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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Sovereign Bancorp Inc
Article Abstract:
Sovereign Bancorp Chmn Frederick Jaindl is very bullish about the firm considering a Sep 1992 quarter gain and a nine-month profit of 86% and 93%, respectively. The figures prompted Jaindl to buy another 200,000 shares, thus, increasing his stakes to 15.88%. Four other Sovereign officials, purchased 36,000 shares at 10 1/2 to 10 5/8. The firm has also disclosed a six-for-five stock split and a quarterly dividend raise to reflect the projected 3rd qtr 1992 growth and the acquisition of Jersey Shore Savings and Loan.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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