Wells Fargo & Co (NYSE: WFC) has reported earnings for its fourth fiscal quarter (ending December 31) of $0.87 versus $0.68 for the same period a year ago — an increase of 28%. Relative to the consensus estimate of $1.09, this was a shortfall of $-0.22. For the latest four quarters through December 31, E.P.S. were $4.88 compared to $3.17 a year ago — an increase of 54%.
Recent Price Action
Wells Fargo & Co (NYSE: WFC) stock closed at $47.40 on 1/12/24 after a decline of -3.3%. Moreover, unusually high trading volume at 176% of normal accompanied the decline. The stock has declined -3.8% during the last week but has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
WFC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Wells Fargo has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Wells Fargo has a good Power Rating of 79 and a very high Appreciation Score of 92, with the Highest Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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