Wells Fargo & Company (NYSE:WFC) had its price target raised by Goldman Sachs Group from $54.00 to $56.00 in a report on Thursday, reports The Fly.
Other stock analysts have also published research reports on the stock. Atlantic Securities upgraded Wells Fargo & Company shares from a neutral rating to an overweight rating and set a target price of $60.00 for the stock in a Tuesday, Feb. 1 report. Argus raised its price target on Wells Fargo & Company from $55.00 to $65.00 in a Tuesday, January 18 research note. Barclays upgraded Wells Fargo & Company from an equal weight rating to an overweight rating and raised its price target for the company from $50.00 to $62.00 in a Monday, January 3 research note. Citigroup upgraded Wells Fargo & Company from a Neutral rating to a Buy rating and lowered its target price for the company from $58.00 to $56.00 in a report released Monday. Finally, JPMorgan Chase & Co. raised its price target on Wells Fargo & Company from $57.00 to $58.50 in a Thursday, February 3 report. Four analysts rated the stock with a hold rating, fifteen gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, the stock has an average buy rating and an average target price of $57.50.
NYSE:WFC shares opened at $46.35 on Thursday. The company has a market capitalization of $176.20 billion, a PE ratio of 9.31, a price-to-earnings growth ratio of 1.18 and a beta of 1.15. The company’s fifty-day moving average is $51.90 and its 200-day moving average is $51.08. The company has a debt ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.82. Wells Fargo & Company has a 52-week low of $41.03 and a 52-week high of $60.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last reported results on Thursday, April 14. The financial services provider reported earnings per share (EPS) of $0.88 for the quarter, beating the consensus estimate of $0.80 by $0.08. The company posted revenue of $17.59 billion for the quarter, versus analyst estimates of $17.82 billion. Wells Fargo & Company had a net margin of 26.43% and a return on equity of 12.73%. Wells Fargo & Company revenue for the quarter decreased 5.2% year over year. In the same quarter a year earlier, the company earned $1.05 per share. Sell-side analysts expect Wells Fargo & Company to post EPS of 4.02 for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 1. Shareholders of record on Friday, February 4 received a dividend of $0.25 per share. The ex-dividend date was Thursday, February 3. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.20. This represents an annualized dividend of $1.00 and a dividend yield of 2.16%. Wells Fargo & Company’s dividend payout ratio (DPR) is 20.08%.
Several hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC increased its stake in Wells Fargo & Company stock by 4.4% during the fourth quarter. Trustcore Financial Services LLC now owns 4,375 shares of the financial services provider worth $210,000 after acquiring 186 additional shares in the last quarter. Cornerstone Advisory LLC increased its stake in Wells Fargo & Company stock by 2.3% in the fourth quarter. Cornerstone Advisory LLC now owns 8,397 shares of the financial services provider worth $403,000 after purchasing an additional 187 shares during the period. Biltmore Capital Advisors LLC increased its stake in Wells Fargo & Company stock by 4.0% in the fourth quarter. Biltmore Capital Advisors LLC now owns 4,921 shares of the financial services provider worth $236,000 after purchasing an additional 189 shares during the period. Johanson Financial Advisors Inc. increased its stake in Wells Fargo & Company stock by 3.5% in the fourth quarter. Johanson Financial Advisors Inc. now owns 5,683 shares of the financial services provider worth $273,000 after purchasing an additional 191 shares during the period. Finally, Lumature Wealth Partners LLC increased its equity stake in Wells Fargo & Company by 18.1% in the third quarter. Lumature Wealth Partners LLC now owns 1,299 shares of the financial services provider worth $60,000 after purchasing an additional 199 shares during the period. 69.01% of the shares are currently held by hedge funds and other institutional investors.
Wells Fargo & Company Corporate Profile (Get a rating)
Wells Fargo & Company, a diversified financial services company, offers banking, investment, mortgage, consumer and commercial finance products and services in the United States and around the world. It operates through four segments: Consumer Banking and Lending; The Commercial Bank; Corporate and investment banking; and wealth and investment management.
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