Wells Fargo & Company (NYSE:WFC) reached a new 52-week high on Friday . The stock traded as high as $61.91 and last traded at $61.91, with a volume of 1700193 shares changing hands. The stock had previously closed at $61.28.
Analysts Set New Price Targets
A number of brokerages have commented on WFC. Evercore ISI upped their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Raymond James raised their target price on shares of 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. Compass Point reissued a "neutral" rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Jefferies Financial Group lifted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a "hold" rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $58.99.
Read Our Latest Stock Analysis on WFC
Wells Fargo & Company Price Performance
The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm's 50-day moving average price is $58.10 and its 200-day moving average price is $50.77. The stock has a market capitalization of $215.77 billion, a PE ratio of 12.92, a PEG ratio of 1.16 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company's payout ratio is 29.23%.
Institutional Investors Weigh In On Wells Fargo & Company
Hedge funds and other institutional investors have recently made changes to their positions in the company. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $29,000. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Finally, Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company's stock.
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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