Wells Fargo & Co. [WFC] Revenue clocked in at $117.07 billion, up 16.07% YTD: What’s Next?

Wells Fargo & Co. [NYSE: WFC] loss -1.24% or -0.72 points to close at $57.13 with a heavy trading volume of 13711545 shares. The company report on March 14, 2024 at 7:30 AM that Wells Fargo Joins Forces With ICON To Support Initiative 99 Global Architecture Competition To Design Homes for $99,000.

$500,000 philanthropic commitment made to Austin-based nonprofit to build winning 3D-printed designs in underserved community.

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Wells Fargo is joining forces with construction technology pioneer, ICON, to support its global architecture competition for affordable housing. The Wells Fargo Foundation is committing $500,000 in grant funding to Austin-based nonprofit Mobile Loaves & Fishes to help bring to life Initiative 99-designed homes and see multiple homes built at Community First! Village to serve the underhoused community. Announced during ICON’s showcase event at SXSW 2024, DOMUS EX MACHINA, ICON and Wells Fargo revealed the Initiative 99™winning designs from phase I of the competition to reimagine affordable housing solutions for $99,000 or less. Upon completion of Phase II of the competition, ICON and Mobile Loaves & Fishes will select one winning design for ICON to deliver multiple units within Community First! Village’s expansion of their growing development.

The daily chart for WFC points out that the company has recorded 35.00% gains over the past six months.

If we look at the average trading volume of 18.90M shares, WFC reached to a volume of 13711545 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Wells Fargo & Co. [WFC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WFC shares is $57.63 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 2.03. 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 & Co. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 18, 2024. The new note on the price target was released on January 09, 2024, representing the official price target for Wells Fargo & Co. stock. Previously, the target price had yet another raise to $55, while Robert W. Baird analysts kept a Neutral rating on WFC stock.

The Average True Range (ATR) for Wells Fargo & Co. is set at 1.05, with the Price to Sales ratio for WFC stock in the period of the last 12 months amounting to 1.75. The Price to Book ratio for the last quarter was 1.24. Price to Free Cash Flow for WFC in the course of the last twelve months was 5.04.

Trading performance analysis for WFC stock

Wells Fargo & Co. [WFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.66. With this latest performance, WFC shares gained by 7.05% in over the last four-week period, additionally plugging by 35.00% over the last 6 months – not to mention a rise of 53.58% 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 63.70, with the RSI for the last a single of trading hit 58.21, and the three-weeks RSI is set at 65.38 for Wells Fargo & Co. [WFC]. The present Moving Average for the last 50 days of trading for this stock 52.34, while it was recorded at 57.41 for the last single week of trading, and 45.56 for the last 200 days.

Wells Fargo & Co. [WFC]: A deeper dive into fundamental analysis

Wells Fargo & Co.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.43.

Wells Fargo & Co. [WFC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Wells Fargo & Co. posted 1.23/share EPS, while the average EPS was predicted by analysts to be reported at 1.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.80%. 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 & Co. go to 6.67%.

An analysis of Institutional ownership at Wells Fargo & Co. [WFC]

There are presently around $177.1 billion, or None% of WFC stock, in the hands of institutional investors. The top three institutional holders of WFC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WFC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WFC stock with ownership which is approximately 5.8325%.