Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo agrees City of London office buy, shrugs off Brexit fear

[Reuters – UK Focus] – Wells Fargo (Hanover: NWT.HA – news) has agreed to buy an 11-storey office development project in London’s City financial district from HB Reavis, the U.S (Other OTC: UBGXF – news) . The purchase of the building at 33 Central, King William Street — close to the Bank of England and the River Thames — will allow Wells Fargo to consolidate all of its London-based staff in a single location when construction completes in the third quarter of 2017. Financial terms of the transaction, which shows confidence in London remaining a global financial centre following the Brexit vote on June 23, were undisclosed but a source close to the deal said the price was around 300 million pounds ($400 million). Read more on this. , with a current market cap of $recting to http://finance.ya, ended trading yesterday at $. Today, shares have traded between $ per share with its 52-week range being $. WFC shares are currently priced at x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s x earnings multiple. According to a consensus of 0 analysts, the earnings estimate of $ per share would be $0.00 worse than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $ is a $0.00 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $0.00 . If reported, that would be a 0.00% decrease over the year-ago quarter. More recently, d WFC from to (/fi). Previously, d WFC from to . When considering if perhaps the stock is under or overvalued, the average price target is $, which is 0.00% below where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo beats appeal over voided Money Store verdict Market Update (NYSE:WFC): Wells Fargo Commits $4.1 Million to Boost Columbia, S.C.-Area Homeownership Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo First Quarter 2016 Earnings Information