Zacks Investment Research downgraded shares of Wells Fargo (NYSE:WF) from a buy rating to a hold rating in a research note released on Friday, May 11th.
According to Zacks, “Woori Financial Group was established as Korea’s first financial holding company in April 2001 to keep pace with the global trends and evolve as a global player with world-class competitiveness. Since its launch, the Group has achieved remarkable growth in the banking business thanks to the consolidated performances of banking subsidiaries, and continued to expand its non-banking businesses through mergers and acquisitions and joint investments, As a result, the Group became the Korea’s representative financial group. “
Separately, ValuEngine cut shares of Wells Fargo from a buy rating to a hold rating in a research report on Wednesday, May 2nd.
NYSE:WF opened at $43.17 on Friday. Wells Fargo has a 52 week low of $38.29 and a 52 week high of $53.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $9.61 billion, a PE ratio of 7.99, a PEG ratio of 1.08 and a beta of 1.12.
Wells Fargo (NYSE:WF) last issued its quarterly earnings results on Wednesday, March 14th. The bank reported $0.38 earnings per share for the quarter. The business had revenue of $1.45 billion for the quarter. Wells Fargo had a net margin of 15.02% and a return on equity of 6.62%. equities analysts predict that Wells Fargo will post 6.6 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its holdings in Wells Fargo by 139.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,191 shares of the bank’s stock worth $132,000 after buying an additional 1,859 shares in the last quarter. Aperio Group LLC lifted its holdings in Wells Fargo by 64.9% during the first quarter. Aperio Group LLC now owns 109,567 shares of the bank’s stock valued at $4,533,000 after purchasing an additional 43,125 shares in the last quarter. US Bancorp DE purchased a new position in Wells Fargo during the fourth quarter valued at $121,000. Finally, Wells Fargo & Company MN raised its position in shares of Wells Fargo by 15,303.0% in the third quarter. Wells Fargo & Company MN now owns 5,083 shares of the bank’s stock valued at $237,000 after buying an additional 5,050 shares during the last quarter. Institutional investors and hedge funds own 0.43% of the company’s stock.
About Wells Fargo
Woori Bank Co, Ltd., together with its subsidiaries, provides commercial banking products and services to individuals, small- and medium-sized enterprises, and large corporations in South Korea. It operates through six segments: Consumer Banking, Corporate Banking, Investment Banking, Capital Markets, Credit Card, and Other Operations.
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