Wells Fargo & Company (WFC) - Technical check

Wells Fargo & Company (WFC) - Technical check

Wells Fargo's wealth management unit has been swept into a U.S. Department of Justice investigation after whistleblowers accused the bank of pushing inessential products or services to customers.

A number of hedge funds have recently added to or reduced their stakes in WFC.

Wall Street benchmarks bounced higher on Thursday, driven by gains in technology, financial and industrials stocks as shareholders hoped that lower US taxes could boost first quarter corporate profits. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider's stock valued at $127,000 after buying an additional 891 shares in the last quarter. Fairfield Bush And Co has 2.33% invested in Wells Fargo & Company (NYSE:WFC). Amussen Hunsaker & Associates LLC purchased a new stake in shares of Wells Fargo in the 2nd quarter valued at approximately $625,000. It also increased its holding in Lyon William Homes (NYSE:WLH) by 114,940 shares in the quarter, for a total of 184,095 shares, and has risen its stake in Pacwest Bancorp Del (NASDAQ:PACW). Capital World Investors now owns 111,753,448 shares of the financial services provider's stock worth $6,192,259,000 after acquiring an additional 10,927,679 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. By taking shares off the market, such buybacks can result in higher earnings per share for companies.

The recent analyst consensus rating clocked at 2.7 on the shares. Vertical Group upgraded Wells Fargo from a "sell" rating to a "buy" rating in a research report on Thursday, December 7th. They noted that the move was a valuation call.

WFC has been the subject of a number of research analyst reports. Gam Holdg Ag has invested 0.21% in Wells Fargo & Company (NYSE:WFC). Keefe, Bruyette & Woods reiterated a "hold" rating and set a $57.00 price objective on shares of Wells Fargo in a report on Thursday, April 5th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock.

When it comes to the Analysis of a Stock, Price Target plays a vital role. The stock presently has a yearly EPS of $3.61. Wells Fargo & Company's dividend payout ratio (DPR) is now 38.10%. The stock has a market cap of $283.06 billion, a PE ratio of 14.14 and a beta of 0.98. These analysts have also projected a Low Estimate of $1.01/share and a High Estimate of $1.17/share. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). The company's revenue was down 1.4% compared to the same quarter past year. The Return on Equity (ROE) value stands at 11.5%. The company's Perf Half Y was isolated optimistically of -5.23% whereas Perf Year was settled at -2.70% and Perf YTD was by -13.14%. During the same period in the prior year, the firm earned $0.96 earnings per share. research analysts anticipate that Wells Fargo will post 4.69 EPS for the current fiscal year.

Wells Fargo CEO Tim Sloan said, "I'm confident that our outstanding team will continue to transform Wells Fargo into a better, stronger company; however, we recognize that it will take time to put all of our challenges behind us".

Shares ticked down slightly in premarket trading and are up just slightly in the past 12 months. The ex-dividend date is Wednesday, February 1st. The stock is trading away to its 50-day and 200-day moving averages by -8.86% and -7.44%, respectively. Following the acquisition, the director now owns 81 shares in the company, valued at $4,534.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

TRADEMARK VIOLATION WARNING: This piece was published by StockNewsTimes and is the sole property of of StockNewsTimes.

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