Wells Fargo & Company (NYSE:WFC) traded down 2.9% on Friday . The company traded as low as $70.07 and last traded at $70.17. 3,476,885 shares were traded during mid-day trading, a decline of 79% from the average session volume of 16,328,833 shares. The stock had previously closed at $72.28.
Wall Street Analysts Forecast Growth
WFC has been the subject of a number of recent research reports. Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.
Read Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.6 %
The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $234.59 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company's fifty day simple moving average is $75.84 and its 200 day simple moving average is $70.14.
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. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.
Hedge Funds Weigh In On Wells Fargo & Company
Institutional investors have recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. 75.90% of the stock is owned by institutional investors.
Wells Fargo & Company Company Profile
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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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