The price of Wells Fargo & Company (NYSE:WFC) shares last traded on Wall Street rose 0.73% to $46.84.
Based on available information, 28 analysts follow Wells Fargo & Company (NYSE:WFC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $63.00 and a low of $45.00, we find $54.00. Given the previous closing price of $46.50, this indicates a potential upside of 16.13 percent. WFC stock price is now 6.31% away from the 50-day moving average and 2.93% away from the 200-day moving average. The market capitalization of the company currently stands at $176.53B.
Among analysts, 6 rate the stock a hold while 16 rate it a buy. Brokers who have rated the stock have averaged $53.57 as their price target over the next twelve months.
With the price target enhanced from $46 to $48, Goldman Upgraded its rating from Neutral to Buy for Wells Fargo & Company (NYSE: WFC)., while ‘Atlantic Equities’ rates the stock as ‘Overweight’.
In other news, Santos Kleber, Sr. Executive Vice President sold 22,700 shares of the company’s stock on May 03. The stock was sold for $1,008,788 at an average price of $44.44. Upon completion of the transaction, the Sr. Executive Vice President now directly owns 21,478 shares in the company, valued at $1.01 million. Insiders disposed of 598,866 shares of company stock worth roughly $28.05 million over the past 1 year. A total of 0.17% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WFC stock. A new stake in Wells Fargo & Company shares was purchased by AMALGAMATED FINANCIAL CORP. during the first quarter worth $45,906,000. CAPITAL GROUP PRIVATE CLIENT SERVICES, INC. invested $33,670,000 in shares of WFC during the first quarter. In the first quarter, PARALLAX VOLATILITY ADVISERS, L.P. acquired a new stake in Wells Fargo & Company valued at approximately $22,824,000. SEATOWN HOLDINGS PTE. LTD. acquired a new stake in WFC for approximately $22,329,000. CZECH NATIONAL BANK purchased a new stake in WFC valued at around $20,643,000 in the second quarter. In total, there are 2,473 active investors with 74.60% ownership of the company’s stock.
A candlestick chart of Wells Fargo & Company (NYSE: WFC) showed a price of $46.38 on Monday morning. During the past 12 months, Wells Fargo & Company has had a low of $36.54 and a high of $60.30. The fifty day moving average price for WFC is $44.06 and a two-hundred day moving average price translates $45.51 for the stock.
The latest earnings results from Wells Fargo & Company (NYSE: WFC) was released for Sep, 2022. According to the Banks – Diversified Company, earnings per share came in at $0.85, missing analysts’ expectations of $1.09 by -0.24. This compares to $1.17 EPS in the same period last year. The net profit margin was 32.30% and return on equity was 9.30% for WFC. The company reported revenue of $14.49 billion for the quarter, compared to $9.83 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.39 percent. For the current quarter, analysts expect WFC to generate $20.01B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/01/2022. Investors who held shares on 11/04/2022 were paid a $0.30 dividend. On an annualized basis, this represents a $1.20 dividend and a 2.56% percent yield. There was an ex-dividend date of 11/03/2022 for this dividend. In terms of dividend payout ratio, WFC is presently at 25.80%.
Wells Fargo & Company(WFC) Company Profile
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients. Its products and services comprise corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.