Wells Fargo & Company (WFC) Rating Increased to Strong-Buy at Vetr Inc.

Vetr upgraded shares of Wells Fargo & Company (NYSE:WFC) from a sell rating to a strong-buy rating in a research note published on Monday, November 6th.

Several other brokerages have also recently issued reports on WFC. Zacks Investment Research upgraded shares of Wells Fargo & Company from a sell rating to a hold rating in a research report on Monday, July 10th. Goldman Sachs Group Inc reiterated a buy rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Buckingham Research reiterated a neutral rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & Company in a research report on Monday, July 10th. Robert W. Baird reiterated a buy rating and set a $58.00 price target on shares of Wells Fargo & Company in a research report on Friday, October 6th. Finally, Citigroup Inc. reiterated a buy rating and set a $65.00 price target (up previously from $60.00) on shares of Wells Fargo & Company in a research report on Monday, October 9th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $57.20.

Wells Fargo & Company (NYSE:WFC) traded up $0.02 during mid-day trading on Monday, hitting $54.09. 5,390,000 shares of the company’s stock were exchanged, compared to its average volume of 17,800,000. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $59.99. The stock has a market capitalization of $266,700.00, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. Wells Fargo & Company’s revenue was down 1.8% compared to the same quarter last year. research analysts expect that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.88%. Wells Fargo & Company’s dividend payout ratio is presently 40.31%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new position in Wells Fargo & Company during the second quarter valued at approximately $1,095,000. Brick & Kyle Associates lifted its position in Wells Fargo & Company by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC bought a new position in Wells Fargo & Company during the second quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its position in Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares during the period. Finally, Delphi Private Advisors LLC lifted its position in Wells Fargo & Company by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the period. Hedge funds and other institutional investors own 74.88% of the company’s stock.

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About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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