Wells Fargo & Company [WFC] Revenue clocked in at $46.35 billion, down -3.40% YTD: What’s Next?

Wells Fargo & Company [NYSE: WFC] jumped around 0.7 points on Friday, while shares priced at $46.35 at the close of the session, up 1.53%. The company report on October 28, 2022 that Wells Fargo Foundation Awards $7.5 Million to LISC NY to Expand Homeownership for Families of Color.

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A new effort to help more people of color in New York City become homeowners is launching today with the support of a $7.5 million grant from the Wells Fargo Foundation. The grant was awarded to a new collaborative led by Local Initiatives Support Corporation (LISC) NY, in partnership with the Center for NYC Neighborhoods and Neighborhood Housing Services of New York City (NHSNYC).

The donation comes from Wells Fargo’s Wealth Opportunity Restored Through Homeownership (WORTH) initiative, a $60 million national effort to address systemic barriers to homeownership for people of color. New York City is one of eight markets across the U.S. to receive a WORTH grant, which aims to help create 5,000 new homeowners of color across the city by the end of 2025.

Wells Fargo & Company stock is now -3.40% down from its year-to-date (YTD) trading value. WFC Stock saw the intraday high of $46.49 and lowest of $45.47 per share. The company’s 52-week high price is 60.30, which means current price is +26.85% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 16.14M shares, WFC reached a trading volume of 14982683 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 $53.04 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 2.00. 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.

Goldman have made an estimate for Wells Fargo & Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 03, 2022. The new note on the price target was released on April 11, 2022, representing the official price target for Wells Fargo & Company stock. Previously, the target price had yet another raise to $60, while Atlantic Equities analysts kept a Overweight rating on WFC stock. On January 12, 2022, analysts increased their price target for WFC shares from 50 to 64.

The Average True Range (ATR) for Wells Fargo & Company is set at 1.29, with the Price to Sales ratio for WFC stock in the period of the last 12 months amounting to 3.74. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 96.80.

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 3.39. With this latest performance, WFC shares gained by 14.44% in over the last four-week period, additionally plugging by 6.23% over the last 6 months – not to mention a drop of -9.75% 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 66.03, with the RSI for the last a single of trading hit 72.97, and the three-weeks RSI is set at 61.62 for Wells Fargo & Company [WFC]. The present Moving Average for the last 50 days of trading for this stock 43.34, while it was recorded at 45.65 for the last single week of trading, and 46.13 for the last 200 days.

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 6.67%.

Insider trade positions for Wells Fargo & Company [WFC]

There are presently around $128,752 million, or 74.00% of WFC stock, in the hands of institutional investors. The top three institutional holders of WFC stocks are: VANGUARD GROUP INC with ownership of 322,901,332, which is approximately 0.076% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 266,334,573 shares of the stock with an approximate value of $12.34 billion in WFC stocks shares; and FMR LLC, currently with $8.29 billion in WFC stock with ownership of nearly -2.09% of the company’s market capitalization.

861 institutional holders increased their position in Wells Fargo & Company [NYSE:WFC] by around 162,576,422 shares. Additionally, 994 investors decreased positions by around 136,168,327 shares, while 311 investors held positions by with 2,479,079,945 shares. The mentioned changes placed institutional holdings at 2,777,824,694 shares, according to the latest SEC report filing. WFC stock had 110 new institutional investments in for a total of 8,407,679 shares, while 165 institutional investors sold positions of 9,129,838 shares during the same period.


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