Wells Fargo & Company's (WFC) "Market Perform" Rating Reaffirmed at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a research report report published on Monday morning, Benzinga reports.

A number of other equities analysts have also weighed in on the stock. Barclays boosted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an overweight rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a buy rating in a research report on Monday, April 1st. Compass Point restated a neutral rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a strong-buy rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $58.85.

Wells Fargo & Company Stock Up 0.9 %

WFC stock traded up $0.50 during trading on Monday, hitting $56.97. 18,079,864 shares of the company's stock traded hands, compared to its average volume of 18,593,412. 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 firm has a market capitalization of $201.70 billion, a P/E ratio of 11.97, a PEG ratio of 1.18 and a beta of 1.19. The business has a fifty day simple moving average of $54.92 and a two-hundred day simple moving average of $48.32. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $58.44.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The company's revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 4.68 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.46%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of hedge funds have recently modified their holdings of WFC. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Studio Investment Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.

About Wells Fargo & Company

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.