Wells Fargo & Company (NYSE:WFC) PT Raised to $64.00

Wells Fargo & Company (NYSE:WFC) had its price objective boosted by Jefferies Financial Group from $62.00 to $64.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other research analysts also recently commented on WFC. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a hold rating in a research note on Thursday, March 28th. Argus upped 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. Compass Point reissued a neutral rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Citigroup reissued a neutral rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reissued a market perform rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $59.36.

Wells Fargo & Company Stock Performance

WFC stock opened at $60.59 on Wednesday. The firm has a market cap of $211.24 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.46 and a beta of 1.17. The stock’s 50 day simple moving average is $59.54 and its 200 day simple moving average is $55.30. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.13 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds have recently modified their holdings of the stock. Slagle Financial LLC lifted its holdings in shares of Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after purchasing an additional 1,835 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $2,499,000. Stonegate Investment Group LLC lifted its holdings in shares of Wells Fargo & Company by 5.2% during the first quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock valued at $2,256,000 after purchasing an additional 1,911 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after purchasing an additional 21,496 shares during the last quarter. 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.