Today Barrons is reporting: "Wells Fargo is experiencing a Lazarus-like moment that might lead to meaningful returns in 2023. The answer should come on Jan. 13, when the bank reports fourth-quarter earnings." For full coverage click here. Shares of the large-cap Financial Services company have not moved much on the news as of the morning trading session, and are currently trading at $42.6.
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company belongs to the Financial Services sector, which has an average price to earnings (P/E) ratio of 13.34 and an average price to book (P/B) ratio of 1.95. In contrast, Wells Fargo & Company has a trailing 12 month P/E ratio of 11.1 and a P/B ratio of 1.0.
Wells Fargo & Company has moved -14.6% over the last year compared to -15.7% for the S&P 500 -- a difference of 1.1%. Wells Fargo & Company has a 52 week high of $60.3 and a 52 week low of $36.54. At today's price of $42.6 per share, Wells Fargo & Company is -20.97% away from its target price of $53.91, and on average, analysts give the stock a rating of buy. 0.8% of the company's shares are linked to short positions, and 74.5% of the shares are owned by institutional investors.