Wells Fargo & Company (NYSE:WFC) Stock Price Up 0.5%

Wells Fargo & Company (NYSE:WFC) rose 0.5% during trading on Wednesday . The company traded as high as $60.82 and last traded at $60.53. Approximately 2,758,679 shares were traded during trading, a decline of 85% from the average daily volume of 18,432,846 shares. The stock had previously closed at $60.24.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday. Morgan Stanley increased their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. BMO Capital Markets increased their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, 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. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $59.31.

Wells Fargo & Company Stock Performance

The stock has a fifty day simple moving average of $59.39 and a 200-day simple moving average of $56.06. The stock has a market cap of $207.26 billion, a P/E ratio of 12.19, a PEG ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced 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 analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 28.75%.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. Capital World Investors raised its position in shares of Wells Fargo & Company by 1.0% in the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after buying an additional 263,176 shares in the last quarter. Sanders Capital LLC raised its position in shares of Wells Fargo & Company by 3.2% in the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after buying an additional 781,772 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Wells Fargo & Company by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after buying an additional 526,178 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Wells Fargo & Company by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock valued at $932,352,000 after buying an additional 596,521 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.