Wells Fargo & Company (NYSE:WFC) Given Average Recommendation of “Hold” by Brokerages

Wells Fargo & Company (NYSE:WFC) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. Thirteen 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 1 year price objective among brokerages that have issued a report on the stock in the last year is $58.99.

Several research firms have issued reports on WFC. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. HSBC boosted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC stock opened at $59.94 on Tuesday. The stock has a 50-day simple moving average of $57.63 and a 200 day simple moving average of $50.23. The stock has a market capitalization of $212.21 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Hedge Funds Weigh In On Wells Fargo & Company

Several hedge funds have recently bought and sold shares of the business. Fruth Investment Management increased its holdings in shares of Wells Fargo & Company by 3.2% during the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 200 shares during the last quarter. Lazari Capital Management Inc. raised its position in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 202 shares during the period. Webster Bank N. A. lifted its stake in shares of Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares during the last quarter. First Financial Corp IN boosted its holdings in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after buying an additional 214 shares during the period. Finally, CX Institutional grew its stake in Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after buying an additional 217 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

About Wells Fargo & Company

(Get Free Report

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.

Further Reading

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

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