Wells Fargo & Company (NYSE:WFC) Stock Price Up 0.5% - Still a Buy?

Wells Fargo & Company (NYSE:WFC)'s share price shot up 0.5% during trading on Monday . The company traded as high as $70.85 and last traded at $71.01. 2,328,261 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 17,082,392 shares. The stock had previously closed at $70.69.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.39.

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Wells Fargo & Company Stock Up 1.4 %

The firm's fifty day simple moving average is $75.50 and its two-hundred day simple moving average is $70.43. 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 market capitalization of $236.17 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company's payout ratio is currently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the period. Finally, Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth about $30,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.