During the last session, Wells Fargo & Co. (NYSE:WFC)’s traded shares were 14.39 million, with the beta value of the company hitting 1.16. At the end of the trading day, the stock’s price was $65.41, reflecting an intraday gain of 0.17% or $0.11. The 52-week high for the WFC share is $66.00, that puts it down -0.9 from that peak though still a striking 40.85% gain since the share price plummeted to a 52-week low of $38.69. The company’s market capitalization is $222.64B, and the average intraday trading volume over the past 10 days was 17.31 million shares, and the average trade volume was 17.70 million shares over the past three months.
Wells Fargo & Co. (WFC) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.96. WFC has a Sell rating from 0 analyst(s) out of 18 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 1.32.
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Wells Fargo & Co. (NYSE:WFC) trade information
Wells Fargo & Co. (WFC) registered a 0.17% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.17% in intraday trading to $65.41, hitting a weekly high. The stock’s 5-day price performance is 1.32%, and it has moved by 18.09% in 30 days. Based on these gigs, the overall price performance for the year is 65.89%. The short interest in Wells Fargo & Co. (NYSE:WFC) is 35.72 million shares and it means that shorts have 1.91 day(s) to cover.
The consensus price target of analysts on Wall Street is $62, which implies a decrease of -5.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50 and $75 respectively. As a result, WFC is trading at a discount of -14.66% off the target high and 23.56% off the low.
Wells Fargo & Co. (WFC) estimates and forecasts
Statistics show that Wells Fargo & Co. has underperformed its competitors in share price, compared to the industry in which it operates. Wells Fargo & Co. (WFC) shares have gone up 9.90% during the last six months, with a year-to-date growth rate less than the industry average at -3.13% against 20.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 2.30% this quarter and then drop -3.30% in the quarter after that.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 20.48B as predicted by 15 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to 20.4B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 20.48B and 20.2B respectively.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 2.48%. While earnings are projected to return 9.07% in 2024, the next five years will return 8.39% per annum.
WFC Dividends
Wells Fargo & Co. is due to release its next quarterly earnings in November. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Wells Fargo & Co. is 1.45, with the dividend yield indicating at 2.22 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 3.09%.
Wells Fargo & Co. (NYSE:WFC)’s Major holders
Wells Fargo & Co. insiders own 0.08% of total outstanding shares while institutional holders control 77.98%, with the float percentage being 78.04%. VANGUARD GROUP INC is the largest shareholder of the company, while 2747.0 institutions own stock in it. As of 2024-06-30, the company held over 310.73 million shares (or 8.7281% of all shares), a total value of $18.45 billion in shares.
The next largest institutional holding, with 253.97 million shares, is of BLACKROCK INC.’s that is approximately 7.1338% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $15.08 billion.
