Wells Fargo & Company (NYSE:WFC) Trading Down 1.7%

Wells Fargo & Company (NYSE:WFC) fell 1.7% during trading on Friday . The company traded as low as $59.53 and last traded at $59.65. 1,938,395 shares changed hands during trading, a decline of 89% from the average session volume of 18,242,541 shares. The stock had previously closed at $60.66.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research reports. Citigroup restated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Compass Point reissued a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Evercore ISI boosted their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.36.

Wells Fargo & Company Price Performance

The business’s 50 day moving average is $59.55 and its two-hundred day moving average is $55.37. The firm has a market capitalization of $206.53 billion, a PE ratio of 12.35, a P/E/G ratio of 1.49 and a beta of 1.17. 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 issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Institutional Trading of Wells Fargo & Company

Several hedge funds and other institutional investors have recently bought and sold shares of WFC. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter worth $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth $25,000. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

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.