What Will Happen to Wells Fargo & Company (WFC) Next? The Stock Just Reaches 52-Week High

January 18, 2018 - By Vivian Park

Investors sentiment decreased to 0.73 in 2017 Q3. Its down 0.15, from 0.88 in 2017Q2. It turned negative, as 92 investors sold Wells Fargo & Company shares while 725 reduced holdings. 103 funds opened positions while 495 raised stakes. 3.65 billion shares or 0.40% less from 3.66 billion shares in 2017Q2 were reported.
Accredited Invsts Inc invested in 0.24% or 16,031 shares. Ntv Asset stated it has 11,363 shares or 0.18% of all its holdings. Utd Asset Strategies holds 106,120 shares or 3.32% of its portfolio. Hm Payson And holds 1.59% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 669,607 shares. Saratoga Inv reported 0.11% of its portfolio in Wells Fargo & Company (NYSE:WFC). Horan Advsrs Limited Liability Company holds 955 shares. Newman Dignan And Sheerar holds 24,550 shares. Moody Bancshares Trust Division has 31,953 shares for 0.09% of their portfolio. Albion Financial Grp Ut reported 23,500 shares. Lazard Asset Ltd owns 709,529 shares. Sarasin & Prtnrs Llp holds 1.53M shares. 52.59 million were reported by Global. Hudson Valley Inv Advsr Adv owns 1.39% invested in Wells Fargo & Company (NYSE:WFC) for 97,230 shares. 23,864 are held by First Western Capital Management. Capstone Inv Advsr Limited Liability Company reported 6,991 shares or 0.01% of all its holdings.

The stock of Wells Fargo & Company (NYSE:WFC) hit a new 52-week high and has $69.78 target or 9.00 % above today’s $64.02 share price. The 9 months bullish chart indicates low risk for the $315.27B company. The 1-year high was reported on Jan, 18 by Barchart.com. If the $69.78 price target is reached, the company will be worth $28.37 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.23% or $0.14 during the last trading session, reaching $64.02. About 8.10M shares traded. Wells Fargo & Company (NYSE:WFC) has risen 9.67% since January 18, 2017 and is uptrending. It has underperformed by 7.03% the S&P500.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 36 analysts covering Wells Fargo & Company (NYSE:WFC), 17 have Buy rating, 5 Sell and 14 Hold. Therefore 47% are positive. Wells Fargo & Company had 118 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Buy” rating by RBC Capital Markets given on Friday, January 12. The company was initiated on Wednesday, July 13 by Berenberg. The stock of Wells Fargo & Company (NYSE:WFC) earned “Buy” rating by Deutsche Bank on Thursday, September 22. The company was downgraded on Monday, April 11 by Sandler O’Neill. The stock of Wells Fargo & Company (NYSE:WFC) has “Hold” rating given on Friday, July 14 by Oppenheimer. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by BMO Capital Markets on Friday, January 12. As per Thursday, June 22, the company rating was maintained by Keefe Bruyette & Woods. The stock of Wells Fargo & Company (NYSE:WFC) has “Buy” rating given on Monday, April 25 by Nomura. The company was upgraded on Friday, October 9 by JP Morgan. The company was downgraded on Tuesday, November 15 by Guggenheim.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Latimes.com which released: “$3 billion in tax savings for Wells Fargo? America is on its way back” on January 18, 2018, also Reuters.com with their article: “Wells Fargo loses bid to end Philadelphia predatory lending lawsuit” published on January 16, 2018, Forbes.com published: “Earnings Preview: What To Expect From Wells Fargo On Friday” on January 10, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Usnews.com and their article: “Wells Fargo’s Revenue Comes Up Short” published on January 12, 2018 as well as Fool.com‘s news article titled: “What to Expect From Wells Fargo & Company in 2018” with publication date: December 29, 2017.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $315.27 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 15.62 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

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