In yesterday’s Wall Street session, Wells Fargo & Co. (NYSE:WFC) shares traded at $58.75, down -1.23% from the previous session.
WFC stock price is now -0.53% away from the 50-day moving average and 19.71% away from the 200-day moving average. The market capitalization of the company currently stands at $204.82B.
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With the price target maintained at $64, Compass Point recently Downgraded its rating from Buy to Neutral for Wells Fargo & Co. (NYSE: WFC). On March 27, 2024, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock increasing its target price from $56 to quote $62, while ‘Odeon’ rates the stock as ‘Hold’
In other news, DAVIS RICHARD K, Director bought 3,500 shares of the company’s stock on Nov 09 ’23. 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 $0.25 million. A total of 0.15% of the company’s stock is owned by insiders.
During the past 12 months, Wells Fargo & Co. has had a low of $38.38 and a high of $62.55. According to the stock market information, the enterprise value for the company is $134300041216, which is based on a 12.26 price-to-earnings ratio, a 1.53 price-to-earnings-growth ratio, and a beta of 1.17. The fifty day moving average price for WFC is $59.0632 and a two-hundred day moving average price translates $49.0763 for the stock.
The latest earnings results from Wells Fargo & Co. (NYSE: WFC) was released for 2024-03-31. 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 $1.23 EPS in the same period last year. The net profit margin was 14.63% and return on equity was 10.37% for WFC. The company reported revenue of $22.84 billion for the quarter, compared to $19.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.0 percent. For the current quarter, analysts expect WFC to generate $20.22B in revenue.
Wells Fargo & Co.(WFC) Company Profile
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company 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, such as 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 to corporate, commercial real estate, government, and institutional clients. 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 in brokerage and wealth offices, consumer bank branches, independent offices, and digitally through WellsTrade and Intuitive Investor. The company was founded in 1852 and is headquartered in San Francisco, California.
