Financial News

Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Donates $50,000 for Ecuador Earthquake Relief Efforts

[Business Wire] – Wells Fargo & Company said today the company will donate $50,000 to the Ecuadorian Red Cross through the American Red Cross to help with relief efforts in the northern coastal provinces of Ecuador, which were devastated by a major earthquake on April 16. Read more on this. Wells Fargo & Company (WFC) , with a current value of $256.20B, opened this morning at $50.05. Shares have traded today between $50.05 and $50.66 per share with the price of the stock fluctuating between $44.50 to $58.77 over the last 52 weeks. WFC shares are currently priced at 12.12x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.59x earnings multiple. The company pays shareholders $1.50 per share in dividend income per year, for a current yield of 3.01%. Consensus earnings for the current quarter by the 30 sell-side analysts covering the stock is an estimate of $1.02 per share, which would be $0.01 worse than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $4.13 is a $0.02 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.25 Billion. If realized, that would be a 4.36% increase over the year-ago quarter. In terms of ratings, Piper Jaffray downgraded WFC from Neutral to Underweight (Apr 15, 2016). Previously, Sandler O’Neill downgraded WFC from Buy to Hold. With the above information in mind, readers should note that the average price target is $55.10, which is 10.09% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Stock Update (NYSE:WFC): Wells Fargo Donates $281.3 Million in 2015 to Support Nonprofits Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo First Quarter 2016 Earnings Information Stock Update (NYSE:WFC): Wells Fargo Donates $100,000 for Storm Relief Efforts in Texas
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