News stories about Wells Fargo & (NYSE:WFC) have been trending somewhat positive on Wednesday, according to Accern Sentiment. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Wells Fargo & earned a news impact score of 0.11 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 46.5162571844678 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Ex-Div Reminder for Wells Fargo & Co.’s 6.375% Cumulative Perpetual Preferred Stock, Series A (nasdaq.com)
- Wells Fargo (WFC) Presents at Barclays 2017 Global Financial Services Conference (Transcript) (seekingalpha.com)
- Wells Fargo CEO on account scandal: We had an incentive plan that drove inappropriate behavior (foxbusiness.com)
- Wells Fargo CEO tells investors he ‘can’t promise’ bank won’t find more problems (bizjournals.com)
- Wells Fargo & Co. :WFC-US: Earnings Analysis: Q2, 2017 By the Numbers : September 12, 2017 (finance.yahoo.com)
Shares of Wells Fargo & (NYSE WFC) traded down 0.47% during midday trading on Wednesday, reaching $51.33. 9,418,959 shares of the company’s stock traded hands. Wells Fargo & has a one year low of $43.55 and a one year high of $59.99. The firm has a market capitalization of $254.80 billion, a PE ratio of 12.64 and a beta of 0.96. The stock’s 50-day moving average price is $52.22 and its 200 day moving average price is $54.12.
Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & will post $4.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a $0.39 dividend. The ex-dividend date was Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. Wells Fargo &’s payout ratio is presently 38.42%.
Wells Fargo & declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on WFC shares. Instinet reaffirmed a “buy” rating and set a $64.00 price target on shares of Wells Fargo & in a report on Wednesday, July 12th. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price objective for the company in a research report on Monday, June 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price objective on shares of Wells Fargo & in a research report on Friday, June 23rd. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price target on shares of Wells Fargo & in a research report on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $55.77.
About Wells Fargo &
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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