Vining Sparks reiterated their buy rating on shares of Wells Fargo & Co (NYSE:WFC) in a research report released on Monday, January 8th. They currently have a $75.00 price target on the financial services provider’s stock.
WFC has been the topic of a number of other reports. Goldman Sachs Group reaffirmed a buy rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Vetr raised shares of Wells Fargo & Co from a sell rating to a hold rating and set a $54.49 price target on the stock in a report on Tuesday, October 24th. Vertical Group initiated coverage on shares of Wells Fargo & Co in a report on Friday, October 6th. They issued a sell rating on the stock. Credit Suisse Group reissued a hold rating and issued a $57.00 price target on shares of Wells Fargo & Co in a report on Tuesday, October 10th. Finally, UBS Group set a $55.00 price objective on Wells Fargo & Co and gave the company a hold rating in a research note on Monday, October 16th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $61.71.
Wells Fargo & Co (WFC) traded up $0.07 during trading hours on Monday, hitting $65.46. 892,556 shares of the stock traded hands, compared to its average volume of 16,430,000. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The company has a market cap of $322,580.00, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.70 and a beta of 0.96.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. equities research analysts anticipate that Wells Fargo & Co will post 4.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is currently 37.77%.
Wells Fargo & Co announced that its Board of Directors has initiated a stock buyback program on Tuesday, January 23rd that permits the company to repurchase 350,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Dividend Assets Capital LLC raised its holdings in Wells Fargo & Co by 5.1% in the fourth quarter. Dividend Assets Capital LLC now owns 24,860 shares of the financial services provider’s stock worth $1,508,000 after purchasing an additional 1,215 shares in the last quarter. Delphi Private Advisors LLC raised its holdings in Wells Fargo & Co by 439.9% in the fourth quarter. Delphi Private Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 2,006 shares in the last quarter. IFC Holdings Incorporated FL raised its holdings in Wells Fargo & Co by 163.3% in the fourth quarter. IFC Holdings Incorporated FL now owns 20,808 shares of the financial services provider’s stock worth $1,262,000 after purchasing an additional 12,906 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Wells Fargo & Co by 1.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 555,018 shares of the financial services provider’s stock worth $33,673,000 after purchasing an additional 9,652 shares in the last quarter. Finally, Vigilant Capital Management LLC raised its holdings in Wells Fargo & Co by 43.3% in the fourth quarter. Vigilant Capital Management LLC now owns 4,026 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,216 shares in the last quarter. 76.21% of the stock is owned by institutional investors.
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Wells Fargo & Co Company Profile
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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