Wells Fargo & Company (NYSE:WFC) Stock Price Breaks Below 50 Day Moving Average - Here's What Happened

Key Points

• Wells Fargo shares fell below their 50-day moving average of $84.41, trading as low as $83.04 before last changing hands at $83.986.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $97.50; 17 rate the stock Buy and nine Hold.
• In its latest quarter, Wells Fargo reported EPS of $1.87, slightly above estimates, while revenue of $21.87 billion missed forecasts. The bank also announced a $0.50 quarterly dividend, equivalent to a 2.4% yield.

Wells Fargo & Company (NYSE:WFC - Get Free Report)'s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $84.41 and traded as low as $83.04. Wells Fargo & Company shares last traded at $83.9860, with a volume of 11,741,050 shares traded.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo’s corporate and investment banking chief Fernando Rivas described a “now or never” push among some dealmakers to complete transactions ahead of the 2028 election. More M&A activity could support advisory and financing fees; the bank is also looking at financing for AI infrastructure. Article: Wells Fargo exec sees ‘now or never’ M&A attitude
• Positive Sentiment: A Seeking Alpha article argued WFC could offer attractive 13-month total-return potential, while a Zacks report noted the average brokerage recommendation is bullish. These are supportive sentiment signals, though the coverage does not provide a new company-specific financial catalyst. Article: Wells Fargo: A Big Bank With Bigger 13-Month Total Return Potential Article: Is It Worth Investing in Wells Fargo Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Wells Fargo is adding restructuring expertise by hiring former Deutsche Bank executive Philip Saliba. The move expands its leveraged-finance capabilities, but the report gives no expected revenue or earnings impact. Article: Wells Fargo Builds Out Restructuring Capability With Deutsche Bank Hire
• Negative Sentiment: A couple is suing Wells Fargo over allegedly unauthorized wire transfers totaling $72,360; the bank denies the claim. The dispute is a potential reputational and legal overhang, though no broader impact was reported. Article: Wells Fargo denies couple’s fraud claim

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. The Goldman Sachs Group set a $94.00 price objective on Wells Fargo & Company in a report on Tuesday, October 13th. UBS Group lowered their price target on shares of Wells Fargo & Company from $104.00 to $102.00 and set a "buy" rating for the company in a report on Monday, October 5th. Jefferies Financial Group reduced their price target on shares of Wells Fargo & Company from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, September 24th. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $102.00 to $101.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Finally, Evercore lowered their price target on shares of Wells Fargo & Company from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, October 1st. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Wells Fargo & Company Price Performance

The stock has a 50 day simple moving average of $84.41 and a two-hundred day simple moving average of $83.60. The firm has a market cap of $252.11 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.89 and a current ratio of 0.89.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The firm had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the company posted $1.66 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 7.27 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company's payout ratio is presently 28.21%.

Institutional Investors Weigh In On Wells Fargo & Company

Large investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Wells Fargo & Company in the second quarter worth $1,635,881,000. Bank of New York Mellon Corp acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $1,364,923,000. Amundi boosted its position in Wells Fargo & Company by 73.0% in the 1st quarter. Amundi now owns 16,463,550 shares of the financial services provider's stock valued at $1,310,663,000 after buying an additional 6,944,316 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $859,431,000. Finally, Pzena Investment Management LLC acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $729,502,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company offering banking, lending, investment, and wealth management services. Its products include checking and savings accounts, credit cards, mortgages, auto loans, commercial financing, investment services, and financial advice.

The company serves consumers, businesses, and institutions, primarily in the United States. Its operations include consumer and small business banking, commercial banking, and corporate and investment banking, as well as wealth and investment management.

Wells Fargo traces its origins to 1852, when Henry Wells and William G.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.