Wells Fargo & Company (NYSE:WFC) Receives Consensus Rating of "Hold" from Brokerages

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Wells Fargo & Company (NYSE:WFC) has been given an average recommendation of "Hold" by the twenty analysts that are covering the company, Marketbeat.com reports. Thirteen 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. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $58.99.

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WFC has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Compass Point restated a "neutral" rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Monday, April 15th.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $59.05 on Wednesday. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50 day moving average price of $59.42 and a 200 day moving average price of $54.45. The stock has a market capitalization of $205.87 billion, a P/E ratio of 12.33, a PEG ratio of 1.49 and a beta of 1.17.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analysts' expectations of $20.19 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.37%. Wells Fargo & Company's dividend payout ratio is currently 29.23%.

Hedge Funds Weigh In On Wells Fargo & Company

Several large investors have recently bought and sold shares of the stock. Clearstead Trust LLC lifted its holdings in shares of Wells Fargo & Company by 13.0% in the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 186 shares during the last quarter. Fruth Investment Management increased its position in Wells Fargo & Company by 3.2% during the first quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider's stock worth $377,000 after buying an additional 200 shares during the period. Lazari Capital Management Inc. lifted its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider's stock valued at $1,122,000 after buying an additional 202 shares during the last quarter. Webster Bank N. A. lifted its stake in Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider's stock valued at $588,000 after buying an additional 202 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in shares of Wells Fargo & Company by 18.2% in the first quarter. Beacon Capital Management LLC now owns 1,316 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

About Wells Fargo & Company

(Get Free Report

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.

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Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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