The stock of Wells Fargo & Co. (NYSE:WFC) last traded at $39.70, up 0.03% from the previous session.
WFC stock price is now -6.12% away from the 50-day moving average and -5.95% away from the 200-day moving average. The market capitalization of the company currently stands at $145.25B.
With the price target of $45, HSBC Securities recently initiated with Hold rating for Wells Fargo & Co. (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 $9051.6. 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 $0.78 million. Insiders disposed of 979,932 shares of company stock worth roughly $38.9 million over the past 1 year. A total of 0.13% 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 & Co. shares was purchased by MANNING & NAPIER GROUP, LLC during the first quarter worth $27,557,000. AUSTRALIANSUPER PTY LTD invested $25,217,000 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 & Co. valued at approximately $19,731,000. CORNERSTONE ADVISORS, LLC acquired a new stake in WFC for approximately $8,865,000. UNISUPER MANAGEMENT PTY LTD purchased a new stake in WFC valued at around $7,028,000 in the second quarter. In total, there are 2,504 active investors with 75.43% ownership of the company’s stock.
With an opening price of $39.11 on Monday morning, Wells Fargo & Co. (NYSE: WFC) set off the trading day. During the past 12 months, Wells Fargo & Co. has had a low of $35.25 and a high of $48.84. The fifty day moving average price for WFC is $42.16 and a two-hundred day moving average price translates $42.21 for the stock.
The latest earnings results from Wells Fargo & Co. (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 12.23% and return on equity was 9.12% 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 $20.16B 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 $1.30 dividend and a 3.27% 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 34.98%.
Wells Fargo & Co.(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.
