Wells Fargo & Company [NYSE: WFC] slipped around -0.66 points on Monday, while shares priced at $45.81 at the close of the session, down -1.42%. The company report on September 15, 2021 that Wells Fargo Announces New Digital Infrastructure Strategy and Strategic Partnerships With Microsoft, Google Cloud.
Wells Fargo & Company (NYSE: WFC) announced its new digital infrastructure strategy, combining a multi-cloud approach with third-party data centers to drive technological speed, agility, and scalability for its customers and employees. Central to the digital infrastructure strategy is Wells Fargo’s selection of two industry leaders as its public cloud providers: Microsoft Azure as its primary public cloud provider and Google Cloud providing additional business-critical public cloud services.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210915005388/en/.
Wells Fargo & Company stock is now 51.79% up from its year-to-date (YTD) trading value. WFC Stock saw the intraday high of $45.87 and lowest of $44.84 per share. The company’s 52-week high price is 51.41, which means current price is +55.82% above from all time high which was touched on 08/13/21.
Compared to the average trading volume of 27.63M shares, WFC reached a trading volume of 30120035 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wells Fargo & Company [WFC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WFC shares is $50.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WFC stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Odeon have made an estimate for Wells Fargo & Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 19, 2021. The new note on the price target was released on July 15, 2021, representing the official price target for Wells Fargo & Company stock. Previously, the target price had yet another raise to $57, while Keefe Bruyette analysts kept a Outperform rating on WFC stock.
The Average True Range (ATR) for Wells Fargo & Company is set at 1.24, with the Price to Sales ratio for WFC stock in the period of the last 12 months amounting to 4.57. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 120.21.
How has WFC stock performed recently?
Wells Fargo & Company [WFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.11. With this latest performance, WFC shares dropped by -3.05% in over the last four-week period, additionally plugging by 17.55% over the last 6 months – not to mention a rise of 82.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WFC stock in for the last two-week period is set at 47.66, with the RSI for the last a single of trading hit 47.85, and the three-weeks RSI is set at 48.32 for Wells Fargo & Company [WFC]. The present Moving Average for the last 50 days of trading for this stock 46.46, while it was recorded at 46.25 for the last single week of trading, and 40.74 for the last 200 days.
Wells Fargo & Company [WFC]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Wells Fargo & Company [WFC] shares currently have an operating margin of +4.57. Wells Fargo & Company’s Net Margin is presently recorded at +4.02.
Return on Total Capital for WFC is now 0.76, given the latest momentum, and Return on Invested Capital for the company is 0.88. Return on Equity for this stock inclined to 1.77, with Return on Assets sitting at 0.17. When it comes to the capital structure of this company, Wells Fargo & Company [WFC] has a Total Debt to Total Equity ratio set at 149.77. Additionally, WFC Total Debt to Total Capital is recorded at 59.96, with Total Debt to Total Assets ending up at 14.09. Long-Term Debt to Equity for the company is recorded at 113.37, with the Long-Term Debt to Total Capital now at 40.20.
Reflecting on the efficiency of the workforce at the company, Wells Fargo & Company [WFC] managed to generate an average of $12,293 per employee.
Insider trade positions for Wells Fargo & Company [WFC]
There are presently around $135,856 million, or 72.80% of WFC stock, in the hands of institutional investors. The top three institutional holders of WFC stocks are: VANGUARD GROUP INC with ownership of 333,351,225, which is approximately 1.862% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 298,989,029 shares of the stock with an approximate value of $13.7 billion in WFC stocks shares; and FMR LLC, currently with $8.6 billion in WFC stock with ownership of nearly 13.343% of the company’s market capitalization.
Positions in Wells Fargo & Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 856 institutional holders increased their position in Wells Fargo & Company [NYSE:WFC] by around 217,648,090 shares. Additionally, 894 investors decreased positions by around 151,382,963 shares, while 287 investors held positions by with 2,596,612,466 shares. The mentioned changes placed institutional holdings at 2,965,643,519 shares, according to the latest SEC report filing. WFC stock had 178 new institutional investments in for a total of 39,208,768 shares, while 113 institutional investors sold positions of 14,201,700 shares during the same period.