Wells Fargo & Co (WFC) Given Average Recommendation of “Hold” by Analysts

Shares of Wells Fargo & Co (NYSE:WFC) have earned a consensus rating of “Hold” from the twenty-four research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.57.

A number of equities research analysts have weighed in on the company. Credit Suisse Group lowered their price target on Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday. ValuEngine cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Nomura reduced their price objective on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 15th. BMO Capital Markets raised their price objective on Wells Fargo & Co to $65.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Finally, Macquarie raised Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a research note on Monday, October 15th.

NYSE WFC traded down $0.83 during trading hours on Monday, reaching $50.26. 28,508,788 shares of the stock traded hands, compared to its average volume of 19,768,462. Wells Fargo & Co has a 1 year low of $50.02 and a 1 year high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $249.20 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.02 and a beta of 1.00.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The firm had revenue of $21.94 billion for the quarter, compared to analysts’ expectations of $21.90 billion. On average, equities analysts expect that Wells Fargo & Co will post 4.5 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Friday, November 9th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.42%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.85%.

Several large investors have recently made changes to their positions in the company. Capital International Investors boosted its position in Wells Fargo & Co by 270.1% during the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after acquiring an additional 65,517,025 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Wells Fargo & Co by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock valued at $2,388,296,000 after acquiring an additional 1,874,789 shares in the last quarter. Primecap Management Co. CA boosted its position in Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after acquiring an additional 12,337,098 shares in the last quarter. Magellan Asset Management Ltd boosted its position in Wells Fargo & Co by 0.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock valued at $1,724,389,000 after acquiring an additional 78,797 shares in the last quarter. Finally, Boston Partners boosted its position in Wells Fargo & Co by 12.6% during the 2nd quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after acquiring an additional 2,372,583 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Analyst Recommendations for Wells Fargo & Co (NYSE:WFC)

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