Wells Fargo & Company (NYSE:WFC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Wells Fargo & Company (NYSE:WFC) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Several other analysts have also recently issued reports on the stock. Robert W. Baird reiterated a neutral rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Argus raised their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a buy rating in a research report on Monday. Odeon Capital Group cut shares of Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price objective on the stock. in a research report on Thursday, January 18th. Finally, Piper Sandler lowered their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a neutral rating on the stock in a research report on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $58.85.

Wells Fargo & Company Stock Up 2.7 %

Wells Fargo & Company stock opened at $58.74 on Monday. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $59.13. The firm has a 50 day moving average price of $55.63 and a 200-day moving average price of $48.68. The company has a market capitalization of $207.96 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.10 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm earned $1.23 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Lazari Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 202 shares during the period. Webster Bank N. A. increased its position in Wells Fargo & Company by 2.0% during the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 202 shares during the last quarter. First Financial Corp IN grew its holdings in shares of Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 214 shares during the last quarter. CX Institutional grew its holdings in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its position in Wells Fargo & Company by 3.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 219 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.