Wells Fargo & Company (NYSE:WFC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Wells Fargo & Company (NYSE:WFC) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

A number of other research firms also recently weighed in on WFC. Robert W. Baird reaffirmed a neutral rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 16th. Compass Point reaffirmed a neutral rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of Hold and an average target price of $58.85.

Wells Fargo & Company Price Performance

WFC opened at $57.18 on Monday. The stock has a fifty day moving average of $55.42 and a 200-day moving average of $48.61. The firm has a market capitalization of $202.44 billion, a P/E ratio of 11.94, a PEG ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $58.44. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 4.86 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds and other institutional investors have recently made changes to their positions in the business. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $29,000. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at about $25,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

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.