Wells Fargo & Company (NYSE:WFC) shares shot up 2.4% during trading on Tuesday . The company traded as high as $65.62 and last traded at $65.58. 2,529,839 shares changed hands during trading, a decline of 86% from the average session volume of 17,460,642 shares. The stock had previously closed at $64.01.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Piper Sandler dropped their price target on 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. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Finally, Raymond James reduced their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.34.
Check Out Our Latest Research Report on WFC
Wells Fargo & Company Price Performance
The firm has a fifty day moving average price of $70.44 and a two-hundred day moving average price of $71.26. The stock has a market capitalization of $225.54 billion, a P/E ratio of 12.83, a PEG ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.
Institutional Trading of Wells Fargo & Company
Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its position in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. raised its position in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares during the last quarter. NatWest Group plc grew its stake in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after buying an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,656,000. Finally, Modera Wealth Management LLC lifted its holdings in Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock worth $1,444,000 after buying an additional 2,548 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.
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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