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Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commits $5 million to Expand Twin Cities NeighborhoodLIFT Program

[Business Wire] – Wells Fargo & Company , NeighborWorks® America and its network member NeighborWorks Home Partners today announced plans to expand the NeighborhoodLIFT® program with a $5 million commitment by Wells Fargo to help boost homeownership in the Twin Cities. Read more on this. Wells Fargo & Company (WFC) , valued at $250.49B, opened at $49.00. Looking at the stock, its one day range is $49.00 to $49.51 with its 52-week range being $44.50 to $58.77. WFC shares are currently priced at 11.89x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.51x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $1.52 per share annually in dividends, yielding 3.10%. Consensus earnings for the current quarter by the 29 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 $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.11 is a $0.04 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.27 Billion. If reported, that would be a 4.46% increase over the year-ago quarter. Recently, Piper Jaffray downgraded WFC from Neutral to Underweight (Apr 15, 2016). Previously, Sandler O’Neill downgraded WFC from Buy to Hold. The average price target for WFC shares is $55.03, which is 12.31% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Company Update (NYSE:WFC): Wells Fargo Commits $5 Million to Boost Philadelphia Homeownership Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commits $5 Million to Boost San Diego County Homeownership Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commits $5 Million to Boost Maricopa Homeownership
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