Wells Fargo & Company (NYSE:WFC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $54.69 and last traded at $54.45, with a volume of 1248284 shares changing hands. The stock had previously closed at $54.13.
Analysts Set New Price Targets
WFC has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $51.43.
Wells Fargo & Company Trading Up 1.1 %
The business has a 50-day moving average price of $49.55 and a two-hundred day moving average price of $44.74. The stock has a market capitalization of $195.79 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.12 and a beta of 1.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.
Hedge Funds Weigh In On Wells Fargo & Company
A number of institutional investors have recently modified their holdings of WFC. Kathmere Capital Management LLC increased its holdings in Wells Fargo & Company by 19.5% in the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 1,185 shares in the last quarter. Stoneridge Investment Partners LLC grew its position in shares of Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 54,262 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $4,967,000. Pegasus Partners Ltd. bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $226,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $5,143,000. Institutional investors and hedge funds own 72.47% of the company’s stock.
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.