Stocks of Wells Fargo & Co. (NYSE:WFC) traded higher last session on Wall Street, down -0.22% to $46.00.
According to the data, Wells Fargo & Co. (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 $65.00 and a low of $43.00, we find $51.00. Given the previous closing price of $46.10, this indicates a potential upside of 10.63 percent. WFC stock price is now 10.95% away from the 50-day moving average and 10.68% away from the 200-day moving average. The market capitalization of the company currently stands at $167.06B.
A total of 10 analysts have issued a hold rating and 15 have given it a buy rating. Brokers who have rated the stock have averaged $50.80 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 & Co. (NYSE: WFC).
In other news, DAVIS RICHARD K, Director bought 3,500 shares of the company’s stock on Nov 09. The stock was bought for $144,270 at an average price of $41.22. Upon completion of the transaction, the Director now directly owns 4,244 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 16, Director Norwood Felicia F bought 77 shares of the business’s stock. A total of $1,451 was incurred on buying the stock at an average price of $18.85. This leaves the insider owning 228 shares of the company worth $10488.0. Insiders disposed of 983,552 shares of company stock worth roughly $45.24 million over the past 1 year. A total of 0.13% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $45.90 for Wells Fargo & Co. (NYSE: WFC). 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 $41.46 and a two-hundred day moving average price translates $41.56 for the stock.
The latest earnings results from Wells Fargo & Co. (NYSE: WFC) was released for Sep, 2023. According to the Banks – Diversified Company, earnings per share came in at $1.48, beating analysts’ expectations of $1.24 by 0.24. This compares to $0.86 EPS in the same period last year. The net profit margin was 13.58% and return on equity was 10.40% for WFC. The company reported revenue of $22.09 billion for the quarter, compared to $14.49 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 52.43 percent. For the current quarter, analysts expect WFC to generate $20.34B in revenue.
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.
