Wells Fargo & Company’s (WFC) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a report published on Wednesday morning, MarketBeat.com reports. They currently have a $62.00 price objective on the financial services provider’s stock, up from their prior price objective of $56.00.

Other analysts have also issued research reports about the company. Odeon Capital Group lowered Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price objective on the stock. in a research report on Thursday, January 18th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $45.00 to $50.00 and gave the company a buy rating in a research note on Friday, December 1st. Oppenheimer restated a market perform rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Raymond James raised their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a strong-buy rating in a report on Tuesday, January 16th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $54.31.

Wells Fargo & Company Stock Up 1.6 %

Shares of NYSE WFC opened at $57.61 on Wednesday. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44. The business’s 50 day moving average is $52.78 and its two-hundred day moving average is $46.94. The firm has a market cap of $203.96 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share 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 firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.

Institutional Trading of Wells Fargo & Company

A number of large investors have recently made changes to their positions in WFC. Defender Capital LLC. acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at $246,000. Fairfield Bush & CO. acquired a new position in Wells Fargo & Company in the first quarter valued at $124,000. Dakota Wealth Management purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at about $222,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock worth $13,274,000 after buying an additional 770 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock worth $467,000 after buying an additional 1,895 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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.