Wells Fargo & Company (NYSE:WFC) Shares Down 0.2%

Wells Fargo & Company (NYSE:WFC)’s share price fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $59.40 and last traded at $59.58. 1,749,913 shares were traded during trading, a decline of 90% from the average session volume of 18,282,961 shares. The stock had previously closed at $59.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Argus raised their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Morgan Stanley upped their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Stock Up 1.2 %

The company’s 50 day simple moving average is $59.16 and its 200-day simple moving average is $56.41. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $210.54 billion, a PE ratio of 12.34, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.75%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. John W. Brooker & Co. CPAs increased its position in shares of Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 171 shares in the last quarter. McAdam LLC grew its stake in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 178 shares during the period. Prentice Wealth Management LLC grew its position in Wells Fargo & Company by 2.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 184 shares during the period. Clearstead Trust LLC increased its position in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Wells Fargo & Company by 3.4% in the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 193 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Company Profile

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.