Wells Fargo & Company (NYSE:WFC) has received a consensus recommendation of “Buy” from the twenty-six research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, fourteen 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 $43.61.
Several research analysts have recently issued reports on the stock. Compass Point upped their target price on shares of Wells Fargo & Company from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, May 18th. UBS Group reiterated a “neutral” rating and issued a $47.00 target price (up previously from $40.00) on shares of Wells Fargo & Company in a research note on Tuesday, May 25th. Robert W. Baird boosted their price objective on shares of Wells Fargo & Company from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Barclays boosted their price objective on shares of Wells Fargo & Company from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, April 15th. Finally, TheStreet cut shares of Wells Fargo & Company from a “b-” rating to a “c” rating in a report on Wednesday, February 24th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. KB Financial Partners LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth $524,000. Advisory Services Network LLC boosted its position in shares of Wells Fargo & Company by 8.2% during the first quarter. Advisory Services Network LLC now owns 81,729 shares of the financial services provider’s stock worth $3,193,000 after acquiring an additional 6,205 shares during the last quarter. Sierra Capital LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth $142,000. Advisor Partners LLC boosted its position in shares of Wells Fargo & Company by 5.4% during the first quarter. Advisor Partners LLC now owns 72,035 shares of the financial services provider’s stock worth $2,814,000 after acquiring an additional 3,718 shares during the last quarter. Finally, Warren Averett Asset Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth $561,000. 69.37% of the stock is owned by hedge funds and other institutional investors.
NYSE:WFC opened at $45.15 on Tuesday. The business’s 50-day simple moving average is $44.94. The company has a market capitalization of $186.63 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.16 and a beta of 1.36. Wells Fargo & Company has a one year low of $20.76 and a one year high of $48.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.84 and a quick ratio of 0.82.
Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.36. The firm had revenue of $18.06 billion for the quarter, compared to the consensus estimate of $17.42 billion. Wells Fargo & Company had a net margin of 9.42% and a return on equity of 4.88%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 3.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th were paid a $0.10 dividend. The ex-dividend date was Thursday, May 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.89%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 72.73%.
Wells Fargo & Company Company Profile
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
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