1 day Ago By ABMN Staff
Senator Mitch McConnell (R-Kentucky) recently bought shares of Wells Fargo & Company (NYSE:WFC). In a filing disclosed on January 04th, the Senator disclosed that they had bought between $1,001 and $15,000 in Wells Fargo & Company stock on December 2nd. Wells Fargo & Company Stock Up 1.
6 % WFC opened at $71.31 on Friday. The stock has a market capitalization of $237.
43 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.47 and a beta of 1.
16. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.
13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.
85 and a quick ratio of 0.85. The business has a 50-day moving average of $71.
51 and a two-hundred day moving average of $62.48. Wells Fargo & Company ( NYSE:WFC – Get Free Report ) last released its quarterly earnings data on Friday, October 11th.
The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.
14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.
40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.
43%. The company’s revenue was down 2.4% compared to the same quarter last year.
During the same period in the previous year, the company posted $1.39 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.
43 earnings per share for the current year. Wells Fargo & Company Announces Dividend Insider Activity In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.
70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957.
This trade represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link .
Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.
00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13.
This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here .
Insiders own 0.08% of the company’s stock. Institutional Investors Weigh In On Wells Fargo & Company Several large investors have recently made changes to their positions in WFC.
First City Capital Management Inc. lifted its holdings in Wells Fargo & Company by 6.8% in the fourth quarter.
First City Capital Management Inc. now owns 17,715 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 1,131 shares during the period. First Citizens Financial Corp raised its position in shares of Wells Fargo & Company by 67.
5% during the 4th quarter. First Citizens Financial Corp now owns 6,198 shares of the financial services provider’s stock worth $435,000 after buying an additional 2,498 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000.
GAMMA Investing LLC boosted its holdings in shares of Wells Fargo & Company by 13.3% in the fourth quarter. GAMMA Investing LLC now owns 42,478 shares of the financial services provider’s stock valued at $2,984,000 after acquiring an additional 4,999 shares in the last quarter.
Finally, Versant Capital Management Inc increased its stake in shares of Wells Fargo & Company by 19.6% during the fourth quarter. Versant Capital Management Inc now owns 4,989 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 816 shares during the period.
Institutional investors and hedge funds own 75.90% of the company’s stock. Wall Street Analysts Forecast Growth Several analysts have issued reports on the stock.
The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.
Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd.
Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th.
Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd.
Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th.
Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.
57. Read Our Latest Analysis on WFC About Senator McConnell Mitch McConnell (Republican Party) is a member of the U.S.
Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027.
McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky.
He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.
McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015.
As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump’s presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years.
And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.
S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985. Wells Fargo & Company Company Profile ( Get Free Report ) Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.
The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Read More Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter .
.
