Press coverage about Wells Fargo & Co (NYSE:WFC) has trended somewhat positive recently, according to AlphaOne Sentiment Analysis. The research group, a division of Accern, ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Wells Fargo & Co earned a coverage optimism score of 0.19 on AlphaOne’s scale. AlphaOne also assigned news coverage about the financial services provider an impact score of 84 out of 100, indicating that recent press coverage is very likely to have an impact on the company’s share price in the immediate future.
These are some of the media stories that may have impacted Alpha One Sentiment Analysis’s scoring:
- Wells Fargo & Company Declares Cash Dividends on Preferred Stock – Business Wire (press release) (businesswire.com)
- [$$] Banks Want a Piece of the Payday-Loan Pie (finance.yahoo.com)
- REFILE-ANALYSIS-Wells Fargo suffers slump in muni bond underwriting – Nasdaq (nasdaq.com)
- The Wells Fargo & Co (WFC) Expected to Announce Quarterly Sales of $22.44 Billion – BangaloreWeekly (bangaloreweekly.com)
Shares of Wells Fargo & Co (NYSE:WFC) traded up 1.30% on Friday, reaching $53.06. The company’s stock had a trading volume of 16,894,978 shares. The firm has a market capitalization of $265.16 billion, a PE ratio of 13.27 and a beta of 0.98. Wells Fargo & Co has a one year low of $43.55 and a one year high of $59.99. The firm has a 50-day moving average price of $53.98 and a 200 day moving average price of $54.85.
Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Thursday, April 13th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.25 billion. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. Wells Fargo & Co’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts anticipate that Wells Fargo & Co will post $4.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, May 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 2.86%. Wells Fargo & Co’s dividend payout ratio is currently 38.10%.
Several research firms recently issued reports on WFC. Evercore ISI reduced their price target on Wells Fargo & Co from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 12th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & Co in a research report on Monday, May 8th. Instinet reduced their price target on Wells Fargo & Co from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Vetr lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and set a $57.21 price target on the stock. in a research report on Thursday, May 4th. Finally, Sandler O’Neill restated a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Tuesday, April 11th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $55.45.
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In related news, Director Ronald Sargent bought 9,050 shares of the stock in a transaction on Friday, May 5th. The stock was bought at an average price of $55.15 per share, for a total transaction of $499,107.50. Following the completion of the acquisition, the director now directly owns 81 shares in the company, valued at $4,467.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Carroll sold 117,704 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $59.02, for a total value of $6,946,890.08. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 106,392 shares of company stock valued at $5,526,822. 0.29% of the stock is owned by company insiders.
About Wells Fargo & Co
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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