Oppenheimer Reiterates “Market Perform” Rating for Wells Fargo & Company (NYSE:WFC)

Oppenheimer restated their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a research note issued to investors on Tuesday, Benzinga reports.

Several other brokerages also recently issued reports on WFC. Piper Sandler cut their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a neutral rating on the stock in a research note on Tuesday, January 16th. Compass Point upped their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a buy rating in a research note on Friday, December 1st. Odeon Capital Group downgraded shares of Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of Hold and a consensus target price of $52.74.

Get Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Price Performance

NYSE WFC opened at $57.85 on Tuesday. The stock has a market capitalization of $204.81 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.19 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $35.25 and a 1 year high of $58.44. The business’s fifty day moving average is $52.03 and its two-hundred day moving average is $46.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.30 billion. During the same period in the prior year, the company posted $0.67 EPS. Wells Fargo & Company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 4.71 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is 29.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grayhawk Investment Strategies Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $422,000. M3 Advisory Group LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $291,000. Skyline Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $213,000. Leo Wealth LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $230,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $516,000. Institutional investors own 72.47% of the company’s stock.

Wells Fargo & Company Company Profile

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

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