For Wells Fargo & Company [WFC], Analyst sees a rise to $60. What next?



Wells Fargo & Company [NYSE: WFC] price plunged by -1.25 percent to reach at -$0.74. The company report on February 11, 2022 that Wells Fargo & Company Declares Cash Dividends on Preferred Stock.

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Wells Fargo & Company (NYSE: WFC) today announced dividends on eight series of preferred stock.

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A sum of 36652200 shares traded at recent session while its average daily volume was at 29.18M shares. Wells Fargo & Company shares reached a high of $60.24 and dropped to a low of $57.91 until finishing in the latest session at $58.31.

The one-year WFC stock forecast points to a potential upside of 7.21. The average equity rating for WFC stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $62.84 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.

Atlantic Equities have made an estimate for Wells Fargo & Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 01, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $50 to $64. The new note on the price target was released on January 12, 2022, representing the official price target for Wells Fargo & Company stock. Previously, the target price had yet another raise from $50 to $62, while Barclays kept a Overweight rating on WFC stock.

The Average True Range (ATR) for Wells Fargo & Company is set at 1.67, with the Price to Sales ratio for WFC stock in the period of the last 12 months amounting to 5.93. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 122.83.

WFC Stock Performance Analysis:

Wells Fargo & Company [WFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.52. With this latest performance, WFC shares gained by 3.39% in over the last four-week period, additionally plugging by 15.76% over the last 6 months – not to mention a rise of 73.90% 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 65.01, with the RSI for the last a single of trading hit 66.61, and the three-weeks RSI is set at 63.29 for Wells Fargo & Company [WFC]. The present Moving Average for the last 50 days of trading for this stock 52.55, while it was recorded at 58.50 for the last single week of trading, and 48.43 for the last 200 days.

Insight into Wells Fargo & Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Wells Fargo & Company [WFC] shares currently have an operating margin of +35.06. Wells Fargo & Company’s Net Margin is presently recorded at +26.15.

Return on Equity for this stock inclined to 11.57, with Return on Assets sitting at 1.10.

Wells Fargo & Company [WFC] Insider Position Details

There are presently around $165,713 million, or 73.50% of WFC stock, in the hands of institutional investors. The top three institutional holders of WFC stocks are: VANGUARD GROUP INC with ownership of 332,443,083, which is approximately -0.272% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 281,093,073 shares of the stock with an approximate value of $16.39 billion in WFC stocks shares; and FMR LLC, currently with $10.89 billion in WFC stock with ownership of nearly -0.504% of the company’s market capitalization.

Positions in Wells Fargo & Company stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 900 institutional holders increased their position in Wells Fargo & Company [NYSE:WFC] by around 111,671,491 shares. Additionally, 926 investors decreased positions by around 162,929,612 shares, while 291 investors held positions by with 2,567,329,776 shares. The mentioned changes placed institutional holdings at 2,841,930,879 shares, according to the latest SEC report filing. WFC stock had 226 new institutional investments in for a total of 44,268,583 shares, while 111 institutional investors sold positions of 23,287,561 shares during the same period.