Susquehanna Bancshares Reiterates $58.00 Price Target for Wells Fargo

Cornelia Mascio
Mag 17, 2018

The institutional investor held 4.50 million shares of the major banks company at the end of 2017Q4, valued at $273.14M, up from 4.37 million at the end of the previous reported quarter. Cerebellum GP LLC acquired a new stake in Wells Fargo in the fourth quarter valued at $132,000. Geode Capital Management LLC increased its holdings in Wells Fargo by 1.3% during the 4th quarter. Stelac Advisory Services LLC bought a new stake in Wells Fargo during the 4th quarter valued at $109,000.

Wells Fargo & Company (WFC), a stock from Money Center Banks Industry, has a value of $55.04 per share, noted a price change of 0.53% in recent trade close. Davis Selected Advisers increased its holdings in Wells Fargo by 1.4% during the 3rd quarter. Magellan Asset Management Ltd increased its holdings in Wells Fargo by 5.1% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 3,253 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 2,507 shares during the last quarter. This stock's ATR (Average True Range) is now 0.99, and its beta factor is now 1.12.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Livetradingnews.com which released: "Wells Fargo & Company (NYSE:WFC) Heffx Technical Review" on May 17, 2018, also Seekingalpha.com with their article: "Wells Fargo: Buying Opportunity?" published on April 25, 2018, Bizjournals.com published: "Wells Fargo taps JPMorgan Chase exec as chief risk officer" on May 07, 2018. Finally, Legal & General Group Plc increased its holdings in Wells Fargo by 3.1% during the 3rd quarter.

Shares of Wells Fargo & Company (WFC) moved 0.53% in the recent trading day.

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 17 have Buy rating, 8 Sell and 14 Hold. Buckingham Research dropped their price target on Wells Fargo from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, April 16th. The stock of Wells Fargo & Company (NYSE:WFC) earned "Buy" rating by Keefe Bruyette & Woods on Tuesday, December 12.

In the latest week Wells Fargo & Company (NYSE:WFC) stock volatility was recorded 1.45% which for the previous full month was noted 1.84%. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. Wells Fargo presently has an average rating of "Hold" and a consensus target price of $61.83.

Intel Corporation (NASDAQ:INTC) closed at $54.64 a share in the latest session and the stock value rose nearly 18.37% since the beginning of this year.

Reilly Herbert Faulkner Iii increased its stake in Barrick Gold Corp (ABX) by 42.33% based on its latest 2017Q4 regulatory filing with the SEC. The stock decreased 1.34% or $0.735 during the last trading session, reaching $54.305.

Shares of NYSE WFC traded up $0.29 during midday trading on Monday, hitting $55.04. This organization's stock showed a trading volume of 16.42 million shares, compared to its average daily volume of 20.15M shares. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $265.74 billion, a P/E ratio of 13.39, a PEG ratio of 1.47 and a beta of 1.13. Wells Fargo has a one year low of $49.27 and a one year high of $66.31.

The company, which is valued at $268.91B, last published its earnings results on Friday, 04/13/2018 for the quarter that ended in Mar-18. The organization posted $1.12 earnings per share (EPS) for the three-month period, missing the Thomson Reuters' analyst consensus estimate of $1.06 by $0.06- amounting to a surprise factor of 5.18%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.74 billion. Wells Fargo had a return on equity of 12.44% and a net margin of 22.80%. Over the past year Company's shares have been trading in the range of $49.27 and $66.31. Wells Fargo's revenue for the quarter was down 1.4% on a year-over-year basis. analysts predict that Wells Fargo will post 4.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st.

Dividends is a reward scheme, that a company presents to its shareholders. This represents a $1.56 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 3rd.

Wells Fargo announced that its board has approved a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase 350,000,000 outstanding shares. Western Standard LLC now owns 62,315 shares of the financial services provider's stock worth $3,437,000 after buying an additional 30,653 shares during the last quarter. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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