Wells Fargo & Company (NYSE:WFC) has earned a consensus rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $60.29.
Several analysts have recently issued reports on WFC shares. Morgan Stanley increased their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. BMO Capital Markets increased their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Evercore ISI reduced their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday.
Check Out Our Latest Analysis on Wells Fargo & Company
Hedge Funds Weigh In On Wells Fargo & Company
Wells Fargo & Company Stock Performance
Shares of NYSE WFC opened at $54.01 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s fifty day moving average price is $57.31 and its two-hundred day moving average price is $57.88. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a market cap of $188.30 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.15 EPS for the current year.
Wells Fargo & Company Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.96%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.
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.
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