In yesterday’s Wall Street session, Wells Fargo & Company (NYSE:WFC) shares traded at $43.43, up 1.12% from the previous session.
As of this writing, 29 analysts cover 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 $65.00 and a low of $43.00, we find $51.50. Given the previous closing price of $42.95, this indicates a potential upside of 19.91 percent. WFC stock price is now -0.04% away from the 50-day moving average and 2.39% away from the 200-day moving average. The market capitalization of the company currently stands at $159.27B.
There are 9 analysts who have given it a hold rating, whereas 16 have given it a buy rating. Brokers who have rated the stock have averaged $50.48 as their price target over the next twelve months.
With the price target of $45, HSBC Securities recently initiated with Hold rating 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 $9902.04. 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 $0.85 million. Insiders disposed of 979,932 shares of company stock worth roughly $42.56 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 MANNING & NAPIER GROUP, LLC during the first quarter worth $30,146,000. AUSTRALIANSUPER PTY LTD invested $27,586,000 in shares of WFC during the first quarter. In the first quarter, HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in Wells Fargo & Company valued at approximately $21,585,000. CORNERSTONE ADVISORS, LLC acquired a new stake in WFC for approximately $9,698,000. UNISUPER MANAGEMENT PTY LTD purchased a new stake in WFC valued at around $7,688,000 in the second quarter. In total, there are 2,504 active investors with 74.60% ownership of the company’s stock.
Monday morning saw Wells Fargo & Company (NYSE: WFC) opened at $42.99. 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 $43.46 and a two-hundred day moving average price translates $42.40 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 $20.12B 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 3.22% 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%.
