Keefe Bruyette analyst David Konrad said he views Wells Fargo’s $3.7B settlement with the CFPB as larger than expected and one that has implications for share buybacks, but he still ultimately views the pact as a positive given the termination of several consent orders. The analyst, who calls the settlement "another part of the process to move past prior issues," has an Outperform rating and $56 price target on Wells Fargo shares.
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