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Wells Fargo & Co. (WFC) Looks Ready for Growth Despite 16.52% Change This Year

Wells Fargo & Co. (NYSE: WFC) is 16.52% higher on its value in year-to-date trading and has touched a low of $36.27 and a high of $58.44 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WFC stock was last observed hovering at around $57.61 in the last trading session, with the day’s loss setting it -0.26%.

Currently trading at $57.35, the stock is 0.21% and 7.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 14.62 million and changing -0.45% at the moment leaves the stock 24.85% off its SMA200. WFC registered 53.42% gain for a year compared to 6-month gain of 40.36%.

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The stock witnessed a 4.16% loss in the last 1 month and extending the period to 3 months gives it a 16.52%, and is 1.09% 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 1.32% over the week and 1.72% over the month.

Wells Fargo & Co. (WFC) has around 226000 employees, a market worth around $205.17B and $117.07B in sales. Current P/E ratio is 11.87 and Fwd P/E is 10.67. Profit margin for the company is 15.36%. Distance from 52-week low is 58.12% and -1.87% from its 52-week high. The company has generated returns on investments over the last 12 months (4.95%).

Wells Fargo & Co. quarterly earnings per share for the current quarter are estimated at $1.09 with sales reaching $20.19B over the same period.The EPS is expected to shrink by -0.95% this year, but quarterly earnings will post -2.50% year-over-year. Quarterly sales are estimated to shrink -2.60% in year-over-year returns.

Wells Fargo & Co. (WFC) Top Institutional Holders

2,629 institutions hold shares in Wells Fargo & Co. (WFC), with institutional investors hold 77.96% of the company’s shares. The shares outstanding are 3.60B, and float is at 3.57B with Short Float at 1.28%. Institutions hold 77.90% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 330.55 million shares valued at $14.11 billion. The investor’s holdings represent 18.13% of the WFC Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 268.9 million shares valued at $11.48 billion to account for 14.75% of the shares outstanding. The other top investors are FMR, LLC which holds 176.31 million shares representing 9.67% and valued at over $7.52 billion, while State Street Corporation holds 8.34% of the shares totaling 152.06 million with a market value of $6.49 billion.

Wells Fargo & Co. (WFC) Insider Activity

The most recent transaction is an insider purchase by DAVIS RICHARD K,the company’sDirector. SEC filings show that DAVIS RICHARD K bought 3,500 shares of the company’s common stock on Nov 09 ’23 at a price of $41.22 per share for a total of $0.14 million. Following the purchase, the insider now owns 4244.0 shares.

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