Wells Fargo & Company (WFC)
- Previous Close
59.93 - Open
59.78 - Bid 59.66 x 2900
- Ask 59.69 x 900
- Day's Range
59.38 - 60.05 - 52 Week Range
36.40 - 61.76 - Volume
2,601,324 - Avg. Volume
19,240,903 - Market Cap (intraday)
209.996B - Beta (5Y Monthly) 1.21
- PE Ratio (TTM)
12.49 - EPS (TTM)
4.80 - Earnings Date Jul 12, 2024
- Forward Dividend & Yield 1.40 (2.34%)
- Ex-Dividend Date Feb 1, 2024
- 1y Target Est
62.56
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services, such as corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services to corporate, commercial real estate, government, and institutional clients. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors in brokerage and wealth offices, consumer bank branches, independent offices, and digitally through WellsTrade and Intuitive Investor. The company was founded in 1852 and is headquartered in San Francisco, California.
www.wellsfargo.com224,824
Full Time Employees
December 31
Fiscal Year Ends
Sector
Industry
Recent News: WFC
Performance Overview: WFC
Trailing total returns as of 4/26/2024, which may include dividends or other distributions. Benchmark is .
YTD Return
1-Year Return
3-Year Return
5-Year Return
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Statistics: WFC
Valuation Measures
Market Cap
209.86B
Enterprise Value
--
Trailing P/E
12.49
Forward P/E
11.92
PEG Ratio (5yr expected)
23.83
Price/Sales (ttm)
2.66
Price/Book (mrq)
1.29
Enterprise Value/Revenue
--
Enterprise Value/EBITDA
--
Financial Highlights
Profitability and Income Statement
Profit Margin
24.19%
Return on Assets (ttm)
0.98%
Return on Equity (ttm)
10.26%
Revenue (ttm)
77.6B
Net Income Avi to Common (ttm)
17.58B
Diluted EPS (ttm)
4.80
Balance Sheet and Cash Flow
Total Cash (mrq)
465.38B
Total Debt/Equity (mrq)
--
Levered Free Cash Flow (ttm)
--
Research Analysis: WFC
Company Insights: WFC
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Insider Sentiment Score
Research Reports: WFC
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The cold hard message is sinking in. Higher rates are here to stay for longer than expected. Federal Reserve Chairman Jerome Powell has said multiple times that the Fed will be 'data-driven' when deciding on monetary policy. And the data has spoken. First, let's look at inflation. There has been great progress made in knocking inflation down from its peak of 9.1% in June of 2022. But achieving progress at the current lower levels, with inflation in the low-3% range, as expected, has been difficult. The Fed has been specific, saying inflation needs to be at 2% before restrictive policy will be eased. The Fed was patient after the January inflation data, and again with February data. But when March showed persistently higher prices, the Fed threw came right out and said that change can wait. Chairman Powell said the following last week. "The recent data have clearly not given us greater confidence..." and "If higher inflation does persist, we can maintain the current level of restriction for as long as needed." Now let's consider unemployment. The Fed again has been specific. Officials are looking for a 4.1% unemployment rate to gently (hopefully) slow the economy. Currently, the rate is not budging and is vacillating between 3.8% and 3.9%. Given the current macroeconomic backdrop, the following is a list of industries and companies we like that should benefit from a sustained period of higher interest rates. All are BUY-rated at Argus.
Daily Spotlight: Yield Curve Headed Toward Upward Slope
The yield curve has been inverted for months. But what has changed over the past year is that the inversion isn't as steep. Back in April 2023, two-year Treasury note yields were about 100 basis points above 10-year yields. Now that gap is 40 basis points. There are a few reasons for this change, and they point toward an upcoming shift to a normal upward-sloping curve in the next few quarters. First, U.S. economic trends have been positive. Fixed-income investors have moved away from fears of deflation and are again seeking a premium in yields versus inflation. That has lifted rates across the yield curve. Second, the Federal Reserve finally is in front of the inflation curve. The central bank is now building a cushion, or a gap, between fed funds and core PCE in order to push inflation back toward 2.0%. That is all well and good -- but if the Fed's gap is too wide for too long, the central bank risks tipping the economy into a recession. Fed Chairman Powell has explained to financial markets that he and his colleagues want to continue fighting stubborn inflation, so they are likely to keep short-term rates high for a period of time, which is where the markets are now. But the day will come when the data shows that the central bank has inflationary pressures at bay, and it will then start to lower rates in order to keep the economy growing. We think that first rate hike will be mid-year. The recent higher-than-expected CPI and PCE reports are pushing out our calls for further rate hikes a few months, but we think that the yield curve will be largely flat by year-end. Then, as the Fed plans to cut further, we think the curve will resume its normal upward slope in 2025.
Daily Spotlight: Yield Curve Headed Toward Upward Slope
The yield curve has been inverted for months. But what has changed over the past year is that the inversion isn't as steep. Back in April 2023, two-year Treasury note yields were about 100 basis points above 10-year yields. Now that gap is 40 basis points. There are a few reasons for this change, and they point toward an upcoming shift to a normal upward-sloping curve in the next few quarters. First, U.S. economic trends have been positive. Fixed-income investors have moved away from fears of deflation and are again seeking a premium in yields versus inflation. That has lifted rates across the yield curve. Second, the Federal Reserve finally is in front of the inflation curve. The central bank is now building a cushion, or a gap, between fed funds and core PCE in order to push inflation back toward 2.0%. That is all well and good -- but if the Fed's gap is too wide for too long, the central bank risks tipping the economy into a recession. Fed Chairman Powell has explained to financial markets that he and his colleagues want to continue fighting stubborn inflation, so they are likely to keep short-term rates high for a period of time, which is where the markets are now. But the day will come when the data shows that the central bank has inflationary pressures at bay, and it will then start to lower rates in order to keep the economy growing. We think that first rate hike will be mid-year. The recent higher-than-expected CPI and PCE reports are pushing out our calls for further rate hikes a few months, but we think that the yield curve will be largely flat by year-end. Then, as the Fed plans to cut further, we think the curve will resume its normal upward slope in 2025.
Analyst Report: Wells Fargo & Co.
Wells Fargo is one of the largest diversified financial services firms in the United States, with a nationwide network of several thousand branches and a large base of financial advisors. Wells Fargo provides a full range of consumer banking, commercial banking, and investment banking services. The company nearly doubled its assets with the acquisition of the former Wachovia.
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