In the last trading session, 15.87 million shares of the Wells Fargo & Co. (NYSE:WFC) were traded, and its beta was 1.17. Most recently the company’s share price was $54.51, and it changed around $0.72 or 1.34% from the last close, which brings the market valuation of the company to $185.54B. WFC currently trades at a discount to its 52-week high of $62.55, offering almost -14.75% off that amount. The share price’s 52-week low was $38.38, which indicates that the current value has risen by an impressive 29.59% since then. We note from Wells Fargo & Co.’s average daily trading volume that its 10-day average is 21.16 million shares, with the 3-month average coming to 17.96 million.
Wells Fargo & Co. stock received a consensus recommendation rating of Hold, based on a mean score of 2.15. If we narrow it down even further, the data shows that 4 out of 31 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 15 recommended WFC as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Wells Fargo & Co. is expected to report earnings per share of 1.27 for the current quarter.
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Wells Fargo & Co. (NYSE:WFC) trade information
Instantly WFC has showed a green trend with a performance of 1.34% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 55.06 on recent trading dayincreased the stock’s daily price by 1.0%. The company’s shares are currently up 10.75% year-to-date, but still up 1.04% over the last five days. On the other hand, Wells Fargo & Co. (NYSE:WFC) is -1.48% down in the 30-day period. We can see from the shorts that 36.58 million shares have been sold at a short interest cover period of 2.36 day(s).
The consensus price target as assigned by Wall Street analysts is $59, which translates to bulls needing to increase their stock price by 7.61% from its current value. Analyst projections state that WFC is forecast to be at a low of $50 and a high of $67.
Wells Fargo & Co. (WFC) estimates and forecasts
Wells Fargo & Co. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -5.64 percent over the past six months and at a -6.08% annual growth rate that is well below the industry average of -3.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -14.20% in revenue this quarter, and will report a decrease of -2.30% in the next quarter. The year-over-year growth rate is expected to be -0.40%, down from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of 20.38B in revenue for the current quarter. 15 analysts expect Wells Fargo & Co. to make 20.27B in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at -1.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.48%. Wells Fargo & Co. earnings are expected to increase by 4.95% in 2024, but the outlook is positive 8.41% per year for the next five years.
WFC Dividends
Wells Fargo & Co.’s next quarterly earnings report is expected to be released in October. The annual dividend yield of the stock is 2.66 percent and its annual dividend per share was 1.45. It is important to note, however, that the 2.66% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 3.11 per year.
Wells Fargo & Co. (NYSE:WFC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.08% of Wells Fargo & Co. shares, and 76.59% of them are in the hands of institutional investors. The stock currently has a share float of 76.65%. Wells Fargo & Co. stock is held by 2773.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.7281% of the shares, which is about 310.73 million shares worth $18.45 billion.
BLACKROCK INC., with 7.1338% or 253.97 million shares worth $15.08 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
