Wells Fargo (WFC) Stock Looks to Break out of Current Trend

What's Happening With WFC View more about WFC >

Wells Fargo (WFC) reports Q1 earnings April 12. The bank is scheduled to report its most recent quarterly numbers before the market open with the consensus calling for earnings of $1.08 per share and revenue of $20.87 billion. For the year, WFC stock has gained 5.7%.

Technical Analysis

WFC was recently trading at $48.72 down $10.81 from its 12-month high and $5.7 above its 12-month low. InvestorsObserver’s Stock Score Report gives WFC a 31 long-term technical score and a 18 short-term technical score. The stock has recent support above $48 and recent resistance below $52. Of the 19 analysts who cover the stock 9 rate it Strong Buy, 0 rate it Buy, 9 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell.

WFC gets an overall score of 42 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

Like the majority of the financial sector, WFC has been stuck in a sideways trend for the last three months after suffering big losses during the final months of 2018. At this time, it does not appear as if the Federal Reserve will lift rates in 2019, after previously expectations called for at least two or three rate hikes. The Fed’s decision to momentarily pause its rate hikes has weighed on the financial sector since big banks like Wells Fargo prosper in times of higher interest rates. Last quarter Wells Fargo posted a positive earnings surprise while missing on the top line. This quarter the street expects another earnings beat with a whisper number of $1.12. For WFC to break out of its current sideways pattern Wall Street is going to want to see positive surprises on both the top and bottom line, as well as upbeat reports from the rest of the financial sector which all start to report their quarterly numbers around the same time. Analysts see a lot of upside in the stock with an average price target of $58.23.

WFC
About Wells Fargo & Company

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into three segments for reporting purposes: community banking; wholesale banking; and wealth and investment management. The community banking segment serves consumers and small businesses with products including deposit accounts, credit and debit cards, and student, mortgage, and home equity loans. Wholesale banking includes corporate and commercial real estate lending, asset-based lending and trade financing, merchant services, and capital markets businesses. Wealth and investment management includes advisory, brokerage, retirement, and trust services.

  • Last Price:
    $45.99
  • Previous Close:
    $45.21
  • Change:
    $0.77 (1.71%)
  • Open:
    $45.22
  • Volume:
    12,921,248
  • Average Volume (100 Day):
    20,869,256
  • Market Capitalization:
    $203.2 B
  • Day's Range:
    $45.19 - $45.99
  • Dividend Yield:
    3.98%
  • 52-week Range:
    $60 - $43.02
  • P-E:
    9.30
  • EPS:
    $4.84
  • Earnings Date:
    not available
  • Ex Dividend Date:
    5/9/19
  • Sector:
    Financial Services
  • Industry:
    Banks - Global
  • Analyst Average Recommendation:
    Hold

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