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

Wells Fargo & Company (NYSE:WFC) has been given an average rating of “Hold” by the twenty-four research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $94.8684.

Several brokerages recently issued reports on WFC. HSBC restated a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Morgan Stanley boosted their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. UBS Group decreased their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Wolfe Research reiterated an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, CICC Research initiated coverage on shares of Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective for the company.

Read Our Latest Research Report on WFC

Wells Fargo & Company Stock Performance

Shares of WFC opened at $88.36 on Thursday. The company’s 50 day simple moving average is $90.21 and its 200-day simple moving average is $84.89. The firm has a market cap of $277.37 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the business posted $1.43 earnings per share. Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at $27,000. Marquette Asset Management LLC boosted its position in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $27,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

About Wells Fargo & Company

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Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including 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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