Wells Fargo & Company (NYSE:WFC) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a report issued on Wednesday morning, MarketBeat.com reports. Keefe, Bruyette & Woods currently has a $62.00 price objective on the financial services provider’s stock, up from their prior price objective of $56.00.

A number of other brokerages have also weighed in on WFC. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Barclays raised their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Piper Sandler cut their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a neutral rating for the company in a research report on Tuesday, January 16th. Oppenheimer restated a market perform rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. Finally, Robert W. Baird restated a neutral rating and set a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $55.85.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $57.96 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business’s 50-day simple moving average is $53.23 and its two-hundred day simple moving average is $47.09. The stock has a market cap of $205.20 billion, a PE ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. Wells Fargo & Company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. Wells Fargo & Company’s dividend payout ratio is 29.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Institutional investors own 75.90% of the company’s stock.

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.