Why Wells Fargo & Company (WFC) is the topic of conversation today

Wells Fargo & Company (NYSE: WFC) is -54.11% lower on its value in year-to-date trading and has touched a low of $22.00 and a high of $54.75 in the current 52-week trading range. The WFC stock was last observed hovering at around $24.59 in the last trading session, with the day’s gains setting it 0.1% off its average median price target of $29.00 for the next 12 months. It is also 62.02% off the consensus price target high of $65.00 offered by 28 analysts, but current levels are -17.57% lower than the price target low of $21.00 for the same period.

Currently trading at $24.69, the stock is 0.84% and -2.06% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 25.7 million and changing 0.41% at the moment leaves the stock -31.51% off its SMA200. WFC registered -46.55% loss for a year compared to 6-month loss of -41.58%. The firm has a 50-day simple moving average (SMA 50) of $24.88 and a 200-day simple moving average (SMA200) of $28.93.

The stock witnessed a 0.16% gain in the last 1 month and extending the period to 3 months gives it a -8.86%, and is 4.44% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.72% over the week and 2.78% over the month.

Wells Fargo & Company (WFC) has around 266300 employees, a market worth around $101.31B and $58.62B in sales. Current P/E ratio is 28.22 and Fwd P/E is 11.82. Profit margin for the company is 6.70%. Distance from 52-week low is 12.23% and -54.90% from its 52-week high. The company has generated returns on investments over the last 12 months (10.30%).

Wells Fargo & Company (WFC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Wells Fargo & Company (WFC) is a “Hold”. 28 analysts offering their recommendations for the stock have an average rating of 3.00, where 17 rate it as a Hold and 1 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 5 analysts have rated the stock as a Sell or Underperform.

Wells Fargo & Company is expected to release its quarterly report on 10/14/2020 and quarterly earnings per share for the current quarter are estimated at $0.35 with sales reaching $17.98B over the same period.The EPS is expected to shrink by -6.00% this year, but quarterly earnings will post -15.60% year-over-year. Quarterly sales are estimated to shrink -18.30% in year-over-year returns.

Wells Fargo & Company (WFC) Top Institutional Holders

2,413 institutions hold shares in Wells Fargo & Company (WFC), with 5.23M shares held by insiders accounting for 0.13% while institutional investors hold 77.58% of the company’s shares. The shares outstanding are 4.12B, and float is at 4.11B with Short Float at 0.80%. Institutions hold 77.48% of the Float.

Wells Fargo & Company (WFC) Insider Activity

A total of 69 insider transactions have happened at Wells Fargo & Company (WFC) in the last six months, with sales accounting for 30 and purchases happening 39 times. The most recent transaction is an insider purchase by NOSKI CHARLES H, the company’s Director. SEC filings show that NOSKI CHARLES H bought 20,000 shares of the company’s common stock on Mar 13 at a price of $29.53 per share for a total of $0.59 million. Following the purchase, the insider now owns 20235.0 shares.

Wells Fargo & Company disclosed in a document filed with the SEC on Mar 13 that SCHARF CHARLES W (CEO & President) bought a total of 173,000 shares of the company’s common stock. The trade occurred on Mar 13 and was made at $28.69 per share for $4.96 million. Following the transaction, the insider now directly holds 0.18 million shares of the WFC stock.

Still, SEC filings show that on Feb 28, DALEY WILLIAM M (Vice Chairman – Public Affairs) acquired 11,100 shares at an average price of $40.99 for $0.45 million. The insider now directly holds 5,600 shares of Wells Fargo & Company (WFC).

Wells Fargo & Company (WFC): Who are the competitors?

The company’s main competitors (and peers) include Bank of America Corporation (BAC) that is trading -3.77% down over the past 12 months. Regions Financial Corporation (RF) is -19.07% down on the 1-year trading charts. Short interest in the company’s stock has risen 8.42% from the last report on Jul 14, 2020 to stand at a total of 30.11 million short shares sold with a short interest ratio of 0.74.