Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo to pay California $8.5 million for privacy law violations

[Reuters] – Wells Fargo Bank broke California’s privacy laws, which require notifying customers at the start of a phone call that they are being recorded, California Attorney General Kamala Harris said in a statement on Tuesday about the state’s civil case against the company. The bank neither admitted nor denied liability, Harris said. Read more on this. Wells Fargo & Company (WFC) , valued at $242.72B, began trading this morning at $48.62. Today’s price range has been between $47.84 and $48.65 per share and has traded between $44.50 and $58.77 over the past 12 months. WFC shares are currently priced at 11.51x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.15x earnings multiple for the same period. The company pays shareholders $1.50 per share annually in dividends, yielding 3.07%. According to a consensus of 30 analysts, the earnings estimate of $0.99 per share would be $0.05 worse than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $4.23 is a $0.08 better 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 $21.68 Billion. If realized, that would be a 1.88% increase over the year-ago quarter. Recently, UBS Initiated WFC at Sell (Mar 24, 2016). Previously, Susquehanna upgraded WFC from Neutral to Positive. The average price target for WFC shares by the analysts covering the stock is $56.11, which is 15.41% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commits $5 Million to Boost Maricopa Homeownership Company Update: Wells Fargo & Co (NYSE:WFC) – American Red Cross: ‘Thank You’ to Wells Fargo Customers Who Donated $300,000 for California Wildfire Relief Through Bank’s ATM Network Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Brings $341 Million in ‘Oscar® Bonds’ to Market for New Academy Museum of Motion Pictures