Wells Fargo & Company (NYSE:WFC) Earns “Market Perform” Rating from Oppenheimer

Oppenheimer reiterated their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a report issued on Monday morning, Benzinga reports.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird reiterated a neutral rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Jefferies Financial Group increased their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a hold rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Odeon Capital Group cut shares of Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price objective on the stock. in a research note on Thursday, January 18th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an overweight rating in a research note on Tuesday, January 30th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $57.18 on Monday. The firm’s 50-day moving average price is $55.42 and its 200-day moving average price is $48.61. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The company has a market cap of $202.44 billion, a PE ratio of 11.94, a PEG ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 4.86 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC purchased a new stake in Wells Fargo & Company during the 1st quarter valued at approximately $203,000. Cornerstone Wealth Group LLC purchased a new stake in Wells Fargo & Company during the 1st quarter valued at approximately $292,000. Physician Wealth Advisors Inc. grew its holdings in Wells Fargo & Company by 6.1% during the 1st quarter. Physician Wealth Advisors Inc. now owns 7,156 shares of the financial services provider’s stock valued at $404,000 after buying an additional 413 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in Wells Fargo & Company by 15.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 225,916 shares of the financial services provider’s stock valued at $13,094,000 after buying an additional 30,700 shares in the last quarter. Finally, Vicus Capital grew its holdings in Wells Fargo & Company by 7.7% during the 1st quarter. Vicus Capital now owns 6,591 shares of the financial services provider’s stock valued at $382,000 after buying an additional 471 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

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.