Wells Fargo & Company (NYSE:WFC) Hits New 52-Week High at $58.75

Wells Fargo & Company (NYSE:WFC)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $58.75 and last traded at $58.67, with a volume of 5376050 shares trading hands. The stock had previously closed at $57.18.

Analyst Ratings Changes

Several equities analysts have weighed in on WFC shares. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

The stock has a market capitalization of $213.68 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.14 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50-day simple moving average is $55.88 and its two-hundred day simple moving average is $48.82.

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 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 analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.06 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 given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

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.