Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commercial Real Estate Hires Industry Veteran Jeff Miller

[Business Wire] – Wells Fargo Commercial Real Estate, part of Wells Fargo & Company has hired industry veteran Jeff Miller to manage the Hospitality Finance Group’s west coast origination offices in Los Angeles and San Francisco. Read more on this. Wells Fargo & Company (WFC) , currently valued at $248.24B, opened this morning at $49.25. Today, shares have traded between $48.49 and $49.54 per share with a trailing 52-week range being $47.75 to $58.77. WFC shares are currently priced at 11.17x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.53x earnings multiple for the same period. And for income investors, the company pays shareholders $1.50 per share annually in dividends, yielding 2.96%. According to a consensus of 27 analysts, the earnings estimate of $1.02 per share would be $0.02 worse than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.37 is a $0.22 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $21.99 Billion. If realized, that would be a 3.34% increase over the year-ago quarter. In terms of ratings, Keefe Bruyette upgraded WFC from Mkt Perform to Outperform (Jan 12, 2016). Previously, Goldman upgraded WFC from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $58.42, which is 18.62% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo to Acquire GE Capital’s Commercial Distribution Finance and Vendor Finance Businesses Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commercial Banking Primed for New Jersey Growth Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Eyes Metro Park for New Commercial Hub in Central NJ