Wells Fargo & Company (NYSE:WFC) Upgraded to “Buy” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company (NYSE:WFC) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $65.00 price objective on the financial services provider’s stock.

Several other analysts also recently issued reports on WFC. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a market perform rating for the company in a research report on Monday, July 15th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a hold rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a market perform rating in a report on Thursday, July 11th. Finally, Evercore ISI reaffirmed an outperform rating and set a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $60.41.

Wells Fargo & Company Stock Down 0.2 %

Wells Fargo & Company stock opened at $58.37 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The firm has a 50 day moving average price of $57.41 and a two-hundred day moving average price of $57.87. The firm has a market cap of $203.50 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.43 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. Equities analysts predict that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. Wells Fargo & Company’s payout ratio is 32.85%.

Hedge Funds Weigh In On Wells Fargo & Company

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter valued at $2,623,044,000. Capital World Investors lifted its holdings in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the period. Sanders Capital LLC lifted its holdings in shares of Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Wells Fargo & Company by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after buying an additional 25,896 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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.