Wells Fargo & Company (NYSE:WFC) Given Average Rating of "Hold" by Brokerages

Shares of Wells Fargo & Company (NYSE:WFC) have received a consensus rating of "Hold" from the twenty research firms that are presently covering the company, MarketBeat Ratings reports. Thirteen analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.99.

Several equities research analysts have issued reports on WFC shares. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Oppenheimer reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.53 on Friday, hitting $60.21. The company's stock had a trading volume of 9,913,040 shares, compared to its average volume of 16,097,602. The firm has a market cap of $209.91 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average price of $59.03 and a 200-day moving average price of $52.47. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. Wells Fargo & Company's payout ratio is presently 29.23%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is currently 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.