Wells Fargo & Company (NYSE:WFC)’s traded shares stood at 10.67 million during the latest session, with the company’s beta value hitting 1.17. At the last check today, the stock’s price was $37.80, to imply a decrease of -3.82% or -$1.5 in intraday trading. The WFC share’s 52-week high remains $54.20, putting it -43.39% down since that peak but still an impressive 3.33% since price per share fell to its 52-week low of $36.54. The company has a valuation of $148.27B, with an average of 37.65 million shares in intraday trading volume over the past 10 days and average of 20.94 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Wells Fargo & Company (WFC), translating to a mean rating of 2.00. Of 29 analyst(s) looking at the stock, 0 analyst(s) give WFC a Sell rating. 7 of those analysts rate the stock as Overweight while 6 advise Hold as 16 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.15.
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Wells Fargo & Company (NYSE:WFC) trade information
After registering a -3.82% downside in the latest session, Wells Fargo & Company (WFC) has traded red over the past five days. The stock hit a weekly high of 41.60 this Thursday, 03/16/23, dropping -3.82% in its intraday price action. The 5-day price performance for the stock is -8.61%, and -21.20% over 30 days. With these gigs, the year-to-date price performance is -8.45%. Short interest in Wells Fargo & Company (NYSE:WFC) saw shorts transact 23.99 million shares and set a 1.26 days time to cover.
Analysts on Wall Street suggest a consensus price target of $53.29, implying an increase of 29.07% to the stock’s recent value. The extremes give us $45.00 and $65.00 for target low and target high price respectively. As such, WFC has been trading -71.96% off suggested target high and -19.05% from its likely low.
Wells Fargo & Company (WFC) estimates and forecasts
Looking at statistics comparing Wells Fargo & Company share performance against respective industry, we note that the company has outperformed competitors. Wells Fargo & Company (WFC) shares are -14.36% down over the last 6 months, with its year-to-date growth rate higher than industry average at 53.18% against 9.80%. Revenue is forecast to grow 30.70% this quarter before jumping 64.90% for the next one. The rating firms project that company’s revenue will grow 7.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 16 analysts is $20.19 billion. Meanwhile, for the quarter ending Jun 2023, a total of 16 analyst(s) estimate revenue growth to $19.98 billion.Earnings reports from the last fiscal year show that sales brought in $17.59 billion and $17.03 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 14.80% before jumping 17.40% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -2.70% for the past 5-year period. While 2023 is set for a -36.40% return in earnings, projections for the next 5 years are at 5.68% annually.
Wells Fargo & Company has its next earnings report out on April 14. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Wells Fargo & Company has a forward dividend ratio of 1.20, with the share yield ticking at 3.05% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Wells Fargo & Company (NYSE:WFC)’s Major holders
Wells Fargo & Company insiders hold 0.16% of total outstanding shares, with institutional holders owning 74.79% of the shares at 74.91% float percentage. In total, 74.79% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 326.82 million shares (or 8.58% of shares), all amounting to roughly $13.14 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 263.14 million shares, or about 6.91% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $10.58 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Wells Fargo & Company (WFC) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 113.14 million shares. This is just over 2.97% of the total shares, with a market valuation of $4.55 billion. Data from the same date shows that the other fund manager holds a little less at 85.98 million, or 2.26% of the shares, all valued at about 3.46 billion.