Raymond James lowers Wells Fargo & Company (NYSE:WFC) price target to $50.00

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Wells Fargo & Company (NYSE:WFC) saw its price target lowered by Raymond James from $60.00 to $50.00 in a report on Friday, reports The Fly.

A number of other analysts have also weighed in on WFC recently. Barclays raised its price target on Wells Fargo & Company from $62.00 to $64.00 in a Monday, April 18 research note. BMO Capital Markets cut its price target on Wells Fargo & Company from $64.00 to $60.00 and set a market performance rating for the stock in a Monday, April 18 research report. Citigroup upgraded Wells Fargo & Company from a Neutral rating to a Buy rating and lowered its share price target from $58.00 to $56.00 in a Monday, April 11 research report. Goldman Sachs Group raised its price target on Wells Fargo & Company from $54.00 to $56.00 in a research report Thursday, April 14. Finally, StockNews.com launched coverage on Wells Fargo & Company in a research report on Thursday, March 31. They have set a holding rating on the stock. Five analysts gave the stock a hold rating and twelve gave the stock a buy rating. According to MarketBeat.com, the company currently has an average moderate buy rating and a consensus target price of $57.03.

Wells Fargo & Company shares opened at $40.76 on Friday. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The company has a debt ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.79. The stock has a market capitalization of $154.49 billion, a PE ratio of 8.47, a P/E/G ratio of 0.93 and a beta of 1.13. The stock’s fifty-day moving average is $43.27 and its two-hundred-day moving average is $48.96.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly results on Thursday, April 14. The financial services provider reported earnings per share of $0.88 for the quarter, beating analyst consensus estimates of $0.81 by $0.07. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The company posted revenue of $17.59 billion for the quarter, versus $17.82 billion expected by analysts. During the same period last year, the company made earnings per share of $1.05. Wells Fargo & Company’s quarterly revenue fell 5.2% year over year. On average, research analysts expect Wells Fargo & Company to post earnings per share of 4.07 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 6 received a dividend of $0.25. This represents a dividend of $1.00 on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, May 5. Wells Fargo & Company’s dividend payout ratio is currently 20.79%.

In other Wells Fargo & Company news, Executive Vice President Kleber Santos sold 22,700 shares of Wells Fargo & Company in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the sale, the executive vice president now owns 21,478 shares of the company, valued at approximately $954,482.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.05% of the shares are currently held by insiders.

Institutional investors and hedge funds have recently changed their positions in the company. Landmark Wealth Management LLC acquired a new stake in Wells Fargo & Company in Q1 worth approximately $40,000. Level Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter for a value of approximately $25,000. Gibson Wealth Advisors LLC purchased a new equity stake in Wells Fargo & Company during Q4 for approximately $25,000. Financial Management Professionals Inc. increased its stake in Wells Fargo & Company stock by 193.3% in Q1. Financial Management Professionals Inc. now owns 522 shares of the financial services provider worth $25,000 after acquiring 344 additional shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new equity stake in Wells Fargo & Company during Q1 for approximately $25,000. 74.01% of the shares are currently held by institutional investors.

About Wells Fargo & Company (Get an assessment)

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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