Stocks of Wells Fargo & Company (NYSE:WFC) traded higher last session on Wall Street, up 0.14% to $43.73.
According to the data, Wells Fargo & Company (NYSE:WFC) has 27 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $42.00, we find $52.00. Given the previous closing price of $43.67, this indicates a potential upside of 19.07 percent. WFC stock price is now 1.00% away from the 50-day moving average and 1.73% away from the 200-day moving average. The market capitalization of the company currently stands at $159.78B.
A total of 7 analysts have issued a hold rating and 15 have given it a buy rating. Brokers who have rated the stock have averaged $50.52 as their price target over the next twelve months.
With the price target maintained at $43.75, Odeon recently Downgraded its rating from Buy to Hold for Wells Fargo & Company (NYSE: WFC).
In other news, Norwood Felicia F, Director bought 77 shares of the company’s stock on Mar 16. The stock was bought for $1,451 at an average price of $18.85. Upon completion of the transaction, the Director now directly owns 228 shares in the company, valued at $9970.44. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23, Sr. Executive Vice President Santos Kleber sold 34,698 shares of the business’s stock. A total of $1,605,476 was realized by selling the stock at an average price of $46.27. This leaves the insider owning 19,590 shares of the company worth $0.86 million. Insiders disposed of 979,932 shares of company stock worth roughly $42.85 million over the past 1 year. A total of 0.09% 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 PORTSIDE WEALTH GROUP, LLC during the first quarter worth $77,346,000. EISLER CAPITAL (UK) LTD. invested $50,647,000 in shares of WFC during the first quarter. In the first quarter, JUNTO CAPITAL MANAGEMENT LP acquired a new stake in Wells Fargo & Company valued at approximately $40,551,000. MANNING & NAPIER GROUP, LLC acquired a new stake in WFC for approximately $30,354,000. AUSTRALIANSUPER PTY LTD purchased a new stake in WFC valued at around $27,777,000 in the second quarter. In total, there are 2,504 active investors with 74.60% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $43.51 for Wells Fargo & Company (NYSE: WFC). During the past 12 months, Wells Fargo & Company has had a low of $35.25 and a high of $48.84. The fifty day moving average price for WFC is $43.38 and a two-hundred day moving average price translates $42.98 for the stock.
The latest earnings results from Wells Fargo & Company (NYSE: WFC) was released for Jun, 2023. According to the Banks – Diversified Company, earnings per share came in at $1.25, beating analysts’ expectations of $1.15 by 0.1. This compares to $0.75 EPS in the same period last year. The net profit margin was 21.00% and return on equity was 9.50% for WFC. The company reported revenue of $20.83 billion for the quarter, compared to $11.56 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 80.25 percent. For the current quarter, analysts expect WFC to generate $20.09B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2023. Investors who held shares on 08/04/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 3.20% percent yield. There was an ex-dividend date of 08/03/2023 for this dividend. In terms of dividend payout ratio, WFC is presently at 29.70%.
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. Its serves to independent offices and consumer banks. The company was founded in 1852 and is headquartered in San Francisco, California.
