Wells Fargo & Company (NYSE:WFC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Wells Fargo & Company (NYSE:WFC) have been given a consensus recommendation of “Hold” by the twenty analysts that are currently covering the firm, MarketBeat reports. Thirteen research 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 company. The average 12-month price target among analysts that have covered the stock in the last year is $58.99.

A number of equities analysts have weighed in on the company. Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HSBC upped their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $59.05 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50 day moving average price is $59.42 and its 200-day moving average price is $54.45. The firm has a market capitalization of $205.87 billion, a PE ratio of 12.33, a P/E/G ratio of 1.49 and a beta of 1.17. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.37%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $25,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

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.