Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Wells Fargo & Co (NYSE:WFC) Stock Price
News headlines about Wells Fargo & Co (NYSE:WFC) have trended somewhat positive this week, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Wells Fargo & Co earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 45.6453096438775 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- A fire sale by the Treasury could send shock waves through the bond market, strategist warns (cnbc.com)
- Wells Fargo & Co (WFC) Stock Upgraded to Hold from a Sell at price of $65.65 – Investorplace.com (investorplace.com)
- Notable Friday Option Activity: FCX, LJPC, WFC (nasdaq.com)
- BRIEF-PREIT Unit & Macerich Enter Term Loan Agreement With Wells Fargo Bank National Association (feeds.reuters.com)
- Wells Fargo & Co (WFC) Stock Upgraded to Hold from a Sell at price of $65.65 (investorplace.com)
Several research firms have weighed in on WFC. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Royal Bank of Canada boosted their price target on Wells Fargo & Co to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target on the stock in a research report on Wednesday, January 10th. Sandler O’Neill upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.04 to $73.00 in a report on Tuesday, January 9th. Finally, Vetr lowered shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price objective for the company. in a report on Monday, January 8th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and an average target price of $61.71.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. equities research analysts predict that Wells Fargo & Co will post 4.74 earnings per share for the current fiscal year.
Wells Fargo & Co declared that its board has initiated a share buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.37%. Wells Fargo & Co’s dividend payout ratio is presently 38.33%.
In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.
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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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