Citigroup slashes price target on Wells Fargo & Company [WFC] – find out why.


Wells Fargo & Company [NYSE: WFC] traded at a low on 05/06/22, posting a -0.47 loss after which it closed the day’ session at $44.55. The company report on May 5, 2022 that Wells Fargo Launches Military Spouse Hiring Program, Designed to Onboard 100 New Employees Per Year for the Next Five Years.

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The Military Spouse Homefront Heroes Hiring Program Provides Portable Career Opportunities in Mid- to High-Level Positions.

Today, Wells Fargo & Company (NYSE: WFC) announces its Military Spouse Homefront Heroes Hiring program, offering mid- to high-level remote, hybrid, and in-office career opportunities with a focus on portability for spouses of those actively serving. The new program is designed to onboard 100 new employees each year for the next five years.

The results of the trading session contributed to over 27028645 shares changing hands. Over the past one week, the price volatility of Wells Fargo & Company stands at 3.37% while the volatility over the past one month is 3.23%.

The market cap for WFC stock reached $169.66 billion, with 3.83 billion shares outstanding and 3.79 billion shares in the current float. Compared to the average trading volume of 29.49M shares, WFC reached a trading volume of 27028645 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 $60.30 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.

Citigroup have made an estimate for Wells Fargo & Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 11, 2022. The new note on the price target was released on February 01, 2022, representing the official price target for Wells Fargo & Company stock. Previously, the target price had yet another raise from $50 to $64, while Piper Sandler kept a Overweight rating on WFC stock. On January 03, 2022, analysts increased their price target for WFC shares from 50 to 62.

The Average True Range (ATR) for Wells Fargo & Company is set at 1.59, with the Price to Sales ratio for WFC stock in the period of the last 12 months amounting to 4.26. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 112.15.

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 2.11. With this latest performance, WFC shares dropped by -6.97% in over the last four-week period, additionally sinking by -11.99% over the last 6 months – not to mention a drop of -4.28% 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 39.84, with the RSI for the last a single of trading hit 40.47, and the three-weeks RSI is set at 40.34 for Wells Fargo & Company [WFC]. The present Moving Average for the last 50 days of trading for this stock 48.64, while it was recorded at 44.62 for the last single week of trading, and 49.67 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 +33.97. Wells Fargo & Company’s Net Margin is presently recorded at +25.22.

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

Earnings analysis for Wells Fargo & Company [WFC]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wells Fargo & Company go to 7.29%.

Insider trade positions for Wells Fargo & Company [WFC]

There are presently around $125,529 million, or 75.50% of WFC stock, in the hands of institutional investors. The top three institutional holders of WFC stocks are: VANGUARD GROUP INC with ownership of 325,460,566, which is approximately -2.1% 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 $12.52 billion in WFC stocks shares; and FMR LLC, currently with $8.13 billion in WFC stock with ownership of nearly -2.314% of the company’s market capitalization.

Positions in Wells Fargo & Company stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,010 institutional holders increased their position in Wells Fargo & Company [NYSE:WFC] by around 106,547,821 shares. Additionally, 916 investors decreased positions by around 185,563,458 shares, while 291 investors held positions by with 2,525,595,553 shares. The mentioned changes placed institutional holdings at 2,817,706,832 shares, according to the latest SEC report filing. WFC stock had 231 new institutional investments in for a total of 28,727,696 shares, while 112 institutional investors sold positions of 10,530,385 shares during the same period.