Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Completes Acquisition of GE Capital’s North American Commercial Distribution Finance and Vendor Finance Businesses

[Business Wire] – Wells Fargo & Company announced today that it has completed the purchase of the North American portions of GE Capital’s Commercial Distribution Finance and Vendor Finance businesses as well as a portion of its Corporate Finance business, totaling $27.4 billion of assets, including $2.9 billion of loans. Read more on this. Wells Fargo & Company (WFC) , currently valued at $243.05B, began trading this morning at $47.23. Today, shares have traded between $47.20 and $47.77 per share with its 52-week range being $44.50 to $58.77. Wells Fargo (WFC) shares are currently priced at 11.01x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.27x earnings multiple for the same period. The company pays shareholders $1.50 per share in dividend income per year, for a current yield of 3.12%. According to a consensus of 29 analysts, the earnings estimate of $1.00 per share would be $0.04 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.26, which would be a $0.11 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.70 Billion. If reported, that would be a 1.97% increase over the year-ago quarter. More recently, Susquehanna upgraded WFC from Neutral to Positive (Jan 20, 2016). Previously, Keefe Bruyette upgraded WFC from Mkt Perform to Outperform. Investors should keep in mind is that the average price target is $57.15, which is 21.00% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commercial Real Estate Hires Industry Veteran Jeff Miller 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