Wells Fargo & Company (NYSE:WFC) traded up 0.6% on Wednesday . The stock traded as high as $75.38 and last traded at $74.72. 1,827,574 shares were traded during mid-day trading, a decline of 89% from the average session volume of 16,334,933 shares. The stock had previously closed at $74.24.
Analysts Set New Price Targets
Several research firms have recently issued reports on WFC. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Citigroup decreased their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.97.
View Our Latest Research Report on WFC
Wells Fargo & Company Stock Down 2.2 %
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 firm has a market cap of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The business's 50 day moving average price is $75.84 and its 200 day moving average price is $69.92.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. Wells Fargo & Company's payout ratio is 29.74%.
Hedge Funds Weigh In On Wells Fargo & Company
Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $3,365,658,000. Northern Trust Corp lifted its holdings 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 valued at $2,411,992,000 after purchasing an additional 3,307,855 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock valued at $1,430,742,000 after purchasing an additional 238,131 shares during the period. Capital Research Global Investors increased its stake in shares of Wells Fargo & Company by 932.0% during the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Wells Fargo & Company by 0.4% during the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock worth $977,338,000 after purchasing an additional 62,099 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.
About Wells Fargo & Company
(
Get Free Report)
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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