Somewhat Positive Press Coverage Somewhat Unlikely to Impact Wells Fargo & (WFC) Share Price
Media coverage about Wells Fargo & (NYSE:WFC) has been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. 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 coverage optimism score of 0.10 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 45.7306624102126 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Republican, Democratic senators seek answers in Wells auto scandal (feeds.reuters.com)
- Jim Cramer Weighs In On Wells Fargo And Darden Restaurants – Benzinga (benzinga.com)
- California insurance regulator to probe Wells Fargo over auto policies – Reuters (reuters.com)
- Ivanhoe Mines issues financial results and review of operations for the second quarter of 2017 (feeds.benzinga.com)
- How Much Will Wells Fargo’s Legal Problems Cost to Resolve? (fool.com)
Wells Fargo & (NYSE:WFC) traded up 0.15% during midday trading on Wednesday, hitting $52.79. 14,631,563 shares of the stock traded hands. The firm’s 50-day moving average is $54.40 and its 200-day moving average is $55.07. Wells Fargo & has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a market cap of $262.20 billion, a price-to-earnings ratio of 13.00 and a beta of 0.95.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Wells Fargo & will post $4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, August 2nd. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 2.96%. Wells Fargo &’s dividend payout ratio is 38.42%.
Wells Fargo & announced that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Several analysts have issued reports on WFC shares. Vining Sparks upgraded shares of Wells Fargo & to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Thursday, April 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 target price (up from $36.00) on shares of Wells Fargo & in a research note on Friday, April 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $62.00 target price on shares of Wells Fargo & in a research note on Monday, May 8th. Evercore ISI reiterated an “outperform” rating and issued a $64.00 target price on shares of Wells Fargo & in a research note on Tuesday, April 11th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.87.
In other Wells Fargo & news, insider Hope A. Hardison sold 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the completion of the sale, the insider now directly owns 109 shares of the company’s stock, valued at $5,675.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary T. Mack sold 38,988 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.58, for a total transaction of $2,049,989.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,278 shares of company stock valued at $6,940,120. 0.22% of the stock is owned by insiders.
Wells Fargo & Company Profile
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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