Piper Jaffray Companies set a $50.00 price target on Wells Fargo & Company (NYSE:WFC) in a research report report published on Sunday, October 15th. The brokerage currently has a hold rating on the financial services provider’s stock.
Several other brokerages also recently issued reports on WFC. UBS AG reiterated a neutral rating and issued a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & in a research report on Friday, September 15th. Zacks Investment Research upgraded Wells Fargo & from a sell rating to a hold rating in a research report on Thursday, October 12th. Berenberg Bank downgraded Wells Fargo & from a hold rating to a sell rating and lifted their price objective for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Robert W. Baird reiterated a buy rating and issued a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reiterated an overweight rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Wells Fargo & presently has an average rating of Hold and an average price target of $57.20.
Wells Fargo & (WFC) opened at 55.62 on Friday. Wells Fargo & has a 1-year low of $44.49 and a 1-year high of $59.99. The stock’s 50 day moving average price is $53.67 and its 200 day moving average price is $53.49. The firm has a market cap of $274.09 billion, a P/E ratio of 14.37 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. Wells Fargo &’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. Equities research analysts predict that Wells Fargo & will post $3.95 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.80%. Wells Fargo &’s dividend payout ratio is currently 40.31%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Wells Fargo & by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after buying an additional 3,621,402 shares in the last quarter. Capital World Investors grew its stake in Wells Fargo & by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after buying an additional 10,927,679 shares in the last quarter. Capital Research Global Investors grew its stake in Wells Fargo & by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after buying an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Wells Fargo & by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after buying an additional 6,291,906 shares in the last quarter. Finally, Davis Selected Advisers grew its stake in Wells Fargo & by 1.9% in the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after buying an additional 472,585 shares in the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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