In a report released today, David Long from Raymond James maintained a Sell rating on Wells Fargo (WFC). The company’s shares closed last Wednesday at $23.25, close to its 52-week low of $22.00.
According to TipRanks.com, Long ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -9.8% and a 24.9% success rate. Long covers the Financial sector, focusing on stocks such as Enterprise Financial Services, First Financial Bancorp, and German American Bancorp.
Currently, the analyst consensus on Wells Fargo is a Hold with an average price target of $29.93.
See today’s analyst top recommended stocks >>
Based on Wells Fargo’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.84 billion and GAAP net loss of $2.38 billion. In comparison, last year the company earned revenue of $21.58 billion and had a net profit of $6.21 billion.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.
Read More on WFC:
