Wells Fargo & Company (NYSE:WFC) Sets New 12-Month High at $58.75

Wells Fargo & Company (NYSE:WFC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $58.75 and last traded at $58.67, with a volume of 5376050 shares trading hands. The stock had previously closed at $57.18.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. HSBC lifted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Barclays upped their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Up 2.3 %

The company’s fifty day simple moving average is $55.42 and its 200-day simple moving average is $48.61. The firm has a market capitalization of $207.15 billion, a PE ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Institutional Trading of Wells Fargo & Company

Several large investors have recently made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $29,000. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $25,000. Finally, Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is currently 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.