Wells Fargo & Company (NYSE:WFC) Shares Down 3.4% - Time to Sell?

Wells Fargo & Company (NYSE:WFC)'s stock price fell 3.4% on Thursday . The stock traded as low as $63.08 and last traded at $64.06. 6,213,249 shares changed hands during trading, a decline of 64% from the average session volume of 17,486,361 shares. The stock had previously closed at $66.33.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research reports. Bank of America cut their price target on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley increased their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday. Piper Sandler decreased their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Citigroup lowered 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 report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.88.

Wells Fargo & Company Trading Up 1.1 %

The firm has a market capitalization of $206.26 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock's 50-day simple moving average is $72.83 and its two-hundred day simple moving average is $70.97.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company's quarterly revenue was down 3.4% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Institutional Trading of Wells Fargo & Company

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