Wells Fargo & Company (NYSE:WFC) Shares Down 1.1% - Should You Sell?

Wells Fargo & Company (NYSE:WFC) shares fell 1.1% during trading on Monday . The stock traded as low as $63.99 and last traded at $63.99. 3,464,035 shares changed hands during trading, a decline of 80% from the average session volume of 17,591,172 shares. The stock had previously closed at $64.71.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. Raymond James decreased their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Bank of America decreased their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Stock Down 1.7 %

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $71.27. The firm has a market capitalization of $207.79 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter valued at $3,365,658,000. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Wells Fargo & Company by 7,887.9% in the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after acquiring an additional 3,350,605 shares during the last quarter. Northern Trust Corp increased its stake in Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock worth $2,411,992,000 after acquiring an additional 3,307,855 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $198,801,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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