Wells Fargo & Company (NYSE:WFC) has been assigned a consensus recommendation of “Buy” from the twenty-three analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $57.58.
Several brokerages recently issued reports on WFC. Zacks Investment Research raised shares of Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a report on Wednesday, February 16th. Raymond James lifted their target price on shares of Wells Fargo & Company from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 18th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Argus lifted their target price on shares of Wells Fargo & Company from $55.00 to $65.00 in a research report on Tuesday, January 18th. Finally, Citigroup upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating in a research report on Monday.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Level Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth about $26,000. KRS Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 69.01% of the company’s stock.
Shares of Wells Fargo & Company stock opened at $48.73 on Monday. The firm has a market capitalization of $185.25 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $52.50 and its 200 day moving average is $51.12. Wells Fargo & Company has a 1 year low of $39.06 and a 1 year high of $60.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last announced its quarterly earnings results on Friday, January 14th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.29. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $18.61 billion. Wells Fargo & Company had a net margin of 26.43% and a return on equity of 12.73%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 4th were paid a $0.25 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Wells Fargo & Company’s dividend payout ratio is presently 20.08%.
About Wells Fargo & Company (Get Rating)
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. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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