Wells Fargo & (WFC) Receiving Somewhat Favorable Press Coverage, Report Shows
News articles about Wells Fargo & (NYSE:WFC) have been trending somewhat positive on Monday, Accern Sentiment reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Wells Fargo & earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 46.3317866276609 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Wells Fargo & Company (WFC) Downgraded to “Sell” at Zacks Investment Research (americanbankingnews.com)
- UBS: ‘Headwinds could persist’ for Wells Fargo after the fake account scandal killed its stock last year (businessinsider.com)
- Wells Fargo ‘can’t promise’ end to scandals as reviews go on (houstonchronicle.com)
- $22.31 Billion in Sales Expected for Wells Fargo & Company (WFC) This Quarter (americanbankingnews.com)
- Bank Stock Roundup: Some Reasons for Optimism, BofA & Citi in Focus – Nasdaq (nasdaq.com)
Shares of Wells Fargo & (NYSE:WFC) traded up 2.03% on Monday, hitting $52.71. The stock had a trading volume of 20,943,426 shares. Wells Fargo & has a 1-year low of $43.55 and a 1-year high of $59.99. The firm’s 50-day moving average is $51.91 and its 200 day moving average is $53.92. The stock has a market cap of $261.65 billion, a P/E ratio of 12.98 and a beta of 0.96.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. Equities analysts forecast that Wells Fargo & will post $4.16 EPS for the current year.
The company 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. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 2.96%. Wells Fargo &’s dividend payout ratio is 38.42%.
Wells Fargo & declared that its board has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
WFC has been the topic of a number of research reports. Vetr upgraded Wells Fargo & to a “strong-buy” rating in a report on Thursday, September 7th. Berenberg Bank downgraded Wells Fargo & from a “hold” rating to a “sell” rating and raised their price objective for the stock from $35.00 to $45.00 in a report on Friday, July 21st. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Zacks Investment Research downgraded Wells Fargo & from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Finally, Keefe, Bruyette & Woods set a $61.00 price objective on Wells Fargo & and gave the stock a “buy” rating in a report on Friday, August 25th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.00.
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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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