Wells Fargo & Co. Sets New 1-Year High at $52.02 (WFC)
Wells Fargo & Co. (NYSE:WFC) hit a new 52-week high on Friday , Stock Ratings News reports. The company traded as high as $52.02 and last traded at $51.98, with a volume of 6,220,666 shares. The stock had previously closed at $51.63.
A number of research firms have recently commented on WFC. Analysts at Nomura initiated coverage on shares of Wells Fargo & Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $60.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Wells Fargo & Co. in a research note on Tuesday, April 29th. They now have a $53.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Wells Fargo & Co. in a research note on Thursday, April 24th. They now have a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.43.
The stock has a 50-day moving average of $49.73 and a 200-day moving average of $47.07. The company has a market cap of $273.5 billion and a price-to-earnings ratio of 12.84.
Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, April 11th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $0.09. The company had revenue of $20.60 billion for the quarter, compared to the consensus estimate of $20.60 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $4.11 earnings per share for the current fiscal year.
Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.
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