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Stock Update (NYSE:WFC): Wells Fargo Promotes Gene Peterson to Lead Food & Agribusiness Division

[Business Wire] – Wells Fargo , the nation’s No. 1 commercial agriculture lender, has named Gene Peterson head of its National Food and Agribusiness Division. He will direct the division’s continuing national growth and as part of the bank’s commitment to American farmers and food producers. Read more on this. Wells Fargo & Company (WFC) , valued at $251.77B, finished yesterday at $50.00. Looking at today’s market, WFC one day range is $49.55 to $49.68 with a one year range of $44.50 to $58.77. WFC shares are currently priced at 12.20x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.96x earnings multiple for the same period. And for income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 3.01%. Consensus earnings for the current quarter by the 30 sell-side analysts covering the stock is an estimate of $1.01 per share, which would be $0.02 worse than the year-ago quarter and a $0.04 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.10 would be a $0.05 worse 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. Given all the information above, we should disclose to readers that the average price target is $54.80, which is 9.60% above than it opened this morning. See more in (NYSE:WFC) Similar Articles: Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo First Quarter 2016 Earnings Information Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Closed-End Funds Declare Monthly Dividends Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Enters Agreement with Zurich to Sell Crop Insurance Business
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