Wells Fargo & Company (NYSE:WFC) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Wells Fargo shares moved above their 200-day moving average, trading as high as $85.49 and last changing hands at $84.76, signaling improved technical momentum.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $98.08, despite some firms recently lowering their targets.
• The bank exceeded quarterly EPS expectations, reporting $1.87 versus $1.85 estimated, and declared a quarterly dividend of $0.50 per share, representing a 2.4% annualized yield.

Wells Fargo & Company (NYSE:WFC - Get Free Report) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $83.76 and traded as high as $85.49. Wells Fargo & Company shares last traded at $84.76, with a volume of 10,439,200 shares traded.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Wells Fargo & Company from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods lowered their target price on Wells Fargo & Company from $94.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, October 14th. Robert W. Baird increased their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. HSBC began coverage on Wells Fargo & Company in a report on Monday, September 28th. They issued a "buy" rating and a $108.00 price target on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.08.

Wells Fargo & Company Stock Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.89. The stock has a market cap of $256.31 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. The firm's 50 day moving average is $84.33 and its 200 day moving average is $83.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The company had revenue of $21.87 billion during the quarter, compared to analysts' expectations of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. Wells Fargo & Company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 earnings per share. Analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company's dividend payout ratio is presently 28.21%.

Institutional Trading of Wells Fargo & Company

Institutional investors have recently made changes to their positions in the business. Capstone Financial Advisors Inc. grew its position in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 113 shares during the period. MFA Wealth Services grew its stake in Wells Fargo & Company by 0.7% in the 2nd quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 115 shares during the period. Hidden Cove Wealth Management LLC raised its position in Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider's stock worth $566,000 after acquiring an additional 124 shares during the period. Five Oceans Advisors lifted its holdings in Wells Fargo & Company by 3.6% during the second quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 125 shares in the last quarter. Finally, Pines Wealth Management LLC lifted its holdings in Wells Fargo & Company by 1.5% during the second quarter. Pines Wealth Management LLC now owns 8,650 shares of the financial services provider's stock valued at $715,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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