Wells Fargo & Company (NYSE:WFC) has earned an average recommendation of “Hold” from the thirty-six analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $56.08.
A number of analysts have recently commented on the stock. Evercore ISI cut their target price on shares of Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 12th. Jefferies Group LLC reissued a “hold” rating and set a $62.00 target price on shares of Wells Fargo & in a research note on Monday, May 8th. Instinet cut their target price on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Vetr lowered shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target on the stock. in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price target on shares of Wells Fargo & in a research report on Friday, June 23rd.
In other news, insider Petros G. Pelos sold 24,708 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total value of $1,335,961.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the transaction, the insider now owns 7 shares of the company’s stock, valued at $365.12. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock valued at $6,940,120 in the last 90 days. Company insiders own 0.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WFC. Delphi Private Advisors LLC boosted its stake in Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Rocky Mountain Advisers LLC boosted its stake in Wells Fargo & by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter. Alexandria Capital LLC boosted its stake in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares in the last quarter. Finally, Stelac Advisory Services LLC bought a new stake in Wells Fargo & during the second quarter valued at about $104,000. 75.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wells Fargo & (WFC) traded down 0.10% during midday trading on Friday, reaching $51.90. The company’s stock had a trading volume of 10,258,595 shares. The firm has a market capitalization of $257.63 billion, a P/E ratio of 12.78 and a beta of 0.95. The stock has a 50-day moving average of $54.27 and a 200 day moving average of $55.02. Wells Fargo & has a 12-month low of $43.55 and a 12-month high of $59.99.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Wells Fargo & will post $4.17 EPS for the current fiscal year.
Wells Fargo & announced that its board has approved a stock buyback program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.00%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio is currently 38.42%.
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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