Wells Fargo & Company (NYSE:WFC) Shares Down 0.3%

Shares of Wells Fargo & Company (NYSE:WFC) fell 0.3% on Friday . The stock traded as low as $59.12 and last traded at $59.68. 4,561,444 shares were traded during trading, a decline of 76% from the average session volume of 18,805,760 shares. The stock had previously closed at $59.83.

Analysts Set New Price Targets

A number of analysts have recently commented on WFC shares. Citigroup reissued a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. HSBC increased their price objective 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, Raymond James upped their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Stock Performance

The firm has a 50 day moving average price of $57.51 and a 200-day moving average price of $50.10. 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 firm has a market capitalization of $212.21 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.15 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WFC. Stoneridge Investment Partners LLC boosted its holdings in Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares in the last quarter. United Services Automobile Association grew its holdings in Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp raised its position in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares in the last quarter. Trust Point Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $2,499,000. Finally, Stonegate Investment Group LLC boosted its position in shares of Wells Fargo & Company by 5.2% during the 1st quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock worth $2,256,000 after purchasing an additional 1,911 shares in the last quarter. Institutional investors and hedge funds 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.