Wells Fargo & Company (WFC) : Traders are bullish on Wells Fargo & Company (WFC) as it has outperformed the S&P 500 by a wide margin of 0.3% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.6%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.57% in the last 1 week, and is up 0.68% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Wells Fargo & Company is up 0.6% in the last 3-month period. Year-to-Date the stock performance stands at -8.39%. The stock has recorded a 20-day Moving Average of 1.24% and the 50-Day Moving Average is 2.56%.
Wells Fargo & Company (NYSE:WFC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $48.44 and $48.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $48.65, notching a gain of 0.25% for the day. The total traded volume was 12,557,726 . The stock had closed at $48.53 on the previous day.
Also, In the latest statement by the brokerage house, Barclays maintains its outlook on Wells Fargo & Company (NYSE:WFC). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm lowers the price target from $63 per share to $61 per share. The rating by the firm was issued on July 18, 2016.
Wells Fargo & Company is a financial services and bank holding company. The Companys segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Companys Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segments products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segments products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Companys Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.