Shares of Wells Fargo & Company (NYSE:WFC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $58.75 and last traded at $58.67, with a volume of 5376050 shares. The stock had previously closed at $57.18.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on WFC. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Oppenheimer reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research note on Monday. Raymond James boosted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 16th. Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.85.
Check Out Our Latest Analysis on Wells Fargo & Company
Wells Fargo & Company Stock Up 2.7 %
The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $207.96 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19. The firm has a 50-day simple moving average of $55.42 and a 200 day simple moving average of $48.61.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company's payout ratio is 29.23%.
Institutional Investors Weigh In On Wells Fargo & Company
Several institutional investors have recently added to or reduced their stakes in the business. Lazari Capital Management Inc. boosted its holdings in Wells Fargo & Company by 0.9% in the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider's stock valued at $1,122,000 after purchasing an additional 202 shares during the period. Webster Bank N. A. raised its position in Wells Fargo & Company by 2.0% in the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider's stock worth $588,000 after purchasing an additional 202 shares during the period. First Financial Corp IN increased its position in shares of Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider's stock valued at $226,000 after acquiring an additional 214 shares during the period. CX Institutional increased its position in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider's stock valued at $998,000 after acquiring an additional 217 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in shares of Wells Fargo & Company by 3.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 219 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.
About Wells Fargo & Company
(
Get Free Report)
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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