StockNews.com upgraded shares of Wells Fargo & Company (NYSE:WFC) from a sell rating to a hold rating in a report released on Monday morning.
Other equities research analysts also recently issued research reports about the company. Morgan Stanley boosted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an overweight rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a hold rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a market perform rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a hold rating in a research report on Monday, April 8th. Finally, Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of Hold and a consensus target price of $58.85.
Get Our Latest Stock Report on WFC
Wells Fargo & Company Price Performance
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 4.86 EPS for the current year.
Wells Fargo & Company Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at approximately $25,000. Finally, Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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