Wells Fargo & Company (NYSE:WFC) Trading Down 0.8% - Here's Why

Wells Fargo & Company (NYSE:WFC)'s share price was down 0.8% during trading on Tuesday . The stock traded as low as $70.12 and last traded at $71.25. Approximately 2,030,171 shares traded hands during trading, a decline of 87% from the average daily volume of 15,810,716 shares. The stock had previously closed at $71.79.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup decreased their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a research report on Monday, March 24th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.55.

Wells Fargo & Company Stock Down 7.6 %

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $217.95 billion, a PE ratio of 12.41, a P/E/G ratio of 1.18 and a beta of 1.16. The company's 50-day moving average is $75.50 and its 200 day moving average is $70.43.

Remove Ads

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $28,000. BNP Paribas purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $28,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter worth $30,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. 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.