Business

Wells Fargo Shares Edge Higher on Quarterly Beat

Share
Wells Fargo Shares Edge Higher on Quarterly Beat

The company is targeting expenses for 2019 of $52 billion to $53 billion.

Wells Fargo shares rose to US$48.19 at 8:21 a.m.in early NY trading after closing at US$47.74 on Thursday. Raymond James initiated coverage on shares of Essential Properties Realty Trust in a research note on Monday, February 25th. The stock had earned Hold rating from Deutsche Bank when it published its report on March 29th, 2019. Citigroup thinks that WFC is worth Buy rating.

Several research firms recently issued reports on WFC. Wall Street analysts have a consensus recommendation of 2.50on this stock. Wells Fargo & Co now has an average rating of "Hold" and an average price target of $59.98. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. The stock has a market capitalization of $233.11 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 0.87 and a beta of 1.11. The company is now rated by analyst who are keeping a close eye on the stock as 2.5. Average deposits were down 1 percent from the previous quarter and fell 3 percent from a year earlier. Wells Fargo & Company debt-to-equity ratio now stands at 1.32, while its quick ratio hovers at. Diluted earnings per share (EPS) of $1.20, compared with $0.96. The Wells Fargo & Company generated $20,980.00 million in revenue during the last quarter, which is slightly lower than the $21,730.70 million predicted by analysts. Analysts consider this stock active, since it switched Trading volume reached 6,958,073 shares as compared to its average volume of 12.40M shares.

Wells Fargo posted better-than-expected growth on both its top and bottom line for the first quarter, but revenues still fell versus the year ago period, despite a jump in its so-called market sensitive income, as non-interest income declined.

Shareholders tracking shares of Wells Fargo & Company (WFC) belongs to Financial sector and Money Center Banks industry. (NYSE:NIO) is now rated as Buy. It started the day trading at $5.11 and traded between $4.96 and $5.05 throughout the trading session.

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. Liquidity can have a profound impact on just how violently stock prices can move in either direction, and the reasons have to do with the nature of the market in a stock's shares. Former CEO Tim Sloan resigned in the wake of last month's charged congressional hearings. Baillie Gifford Co sold more NIO shares, decreasing its portfolio by -5.91% during the last quarter. Athena Capital Advisors LLC acquired a new stake in shares of Wells Fargo & Co in the 4th quarter valued at $42,000.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business.

Share