Wells Fargo & Company (NYSE:WFC) Price Target Increased to $61.50 by Analysts at JPMorgan Chase & Co.

Wells Fargo & Company (NYSE:WFC) had its price target boosted by JPMorgan Chase & Co. from $59.00 to $61.50 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

Several other equities research analysts also recently issued reports on the company. Oppenheimer reiterated a market perform rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Odeon Capital Group downgraded Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. HSBC boosted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a hold rating in a research note on Thursday, March 28th. Finally, Raymond James boosted their target price 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. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $58.99.

Wells Fargo & Company Trading Up 0.3 %

Shares of WFC stock traded up $0.18 on Wednesday, hitting $59.50. The stock had a trading volume of 16,365,387 shares, compared to its average volume of 19,023,324. 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 firm has a market capitalization of $210.65 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The company's 50 day moving average price is $57.38 and its 200-day moving average price is $50.03.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm 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 quarter in the previous year, the business earned $1.23 EPS. Analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. Wells Fargo & Company's dividend payout ratio is currently 29.23%.

Institutional Trading of Wells Fargo & Company

Large investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC boosted its position in shares of Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider's stock valued at $2,757,000 after purchasing an additional 54,262 shares during the period. United Services Automobile Association boosted its position in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider's stock valued at $4,000,000 after purchasing an additional 11,825 shares during the period. Synovus Financial Corp raised its stake in Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider's stock valued at $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Trust Point Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $2,499,000. Finally, Stonegate Investment Group LLC raised its stake in Wells Fargo & Company by 5.2% during the 1st quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider's stock valued at $2,256,000 after acquiring an additional 1,911 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

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.