These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
Media headlines about Wells Fargo & (NYSE:WFC) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Wells Fargo & earned a coverage optimism score of 0.19 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 82 out of 100, meaning that recent news coverage is very likely to have an impact on the stock’s share price in the immediate future.
Shares of Wells Fargo & (NYSE:WFC) traded down 0.13% during mid-day trading on Wednesday, reaching $53.62. 19,422,130 shares of the company’s stock traded hands. The firm has a market cap of $266.32 billion, a price-to-earnings ratio of 13.21 and a beta of 0.95. The company’s 50 day moving average is $54.49 and its 200-day moving average is $55.11. Wells Fargo & has a 52 week low of $43.55 and a 52 week high of $59.99.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Equities analysts expect that Wells Fargo & will post $4.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.39 dividend. The ex-dividend date of this dividend is 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 dividend yield of 2.91%. Wells Fargo &’s dividend payout ratio is currently 37.44%.
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 outstanding 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 generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Wells Fargo & from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $53.00 to $63.00 in a research note on Wednesday, April 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $62.00 price target on shares of Wells Fargo & in a research note on Wednesday, April 5th. Piper Jaffray Companies cut their price target on Wells Fargo & from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 18th. Buckingham Research reiterated a “neutral” rating and issued a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Finally, BidaskClub cut Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Wells Fargo & has a consensus rating of “Hold” and an average price target of $55.87.
In other Wells Fargo & news, insider Petros G. Pelos sold 24,708 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald Sargent bought 9,050 shares of the stock in a transaction on Friday, May 5th. The shares were bought at an average price of $55.15 per share, for a total transaction of $499,107.50. Following the purchase, the director now directly owns 81 shares in the company, valued at approximately $4,467.15. The disclosure for this purchase can be found here. In the last quarter, insiders sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is currently owned by company 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.