Jefferies Financial Group Raises Wells Fargo & Company (NYSE:WFC) Price Target to $64.00

Wells Fargo & Company (NYSE:WFC) had its price target raised by Jefferies Financial Group from $62.00 to $64.00 in a research report sent to investors on Wednesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the financial services provider’s stock.

Several other brokerages have also issued reports on WFC. JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a neutral rating in a research report on Wednesday, May 1st. Oppenheimer reaffirmed a market perform rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Evercore ISI lifted their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an outperform rating in a report on Tuesday, June 25th. Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a buy rating in a report on Monday, April 15th. Finally, Compass Point reissued a neutral rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen investment 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’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of Hold and a consensus target price of $59.36.

Wells Fargo & Company Price Performance

Shares of WFC opened at $59.62 on Wednesday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The business’s fifty day moving average is $59.55 and its 200 day moving average is $55.37. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market cap of $207.85 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.49 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating 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 business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.35%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Institutional Trading of Wells Fargo & Company

Large investors have recently modified their holdings of the business. Slagle Financial LLC boosted its position in shares of Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after acquiring an additional 68,356 shares during the last quarter. Ballentine Partners LLC lifted its position in Wells Fargo & Company by 5.4% in the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares during the last quarter. Trust Point Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $2,499,000. Stonegate Investment Group LLC lifted its position in Wells Fargo & Company by 5.2% in the 1st quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock worth $2,256,000 after buying an additional 1,911 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in Wells Fargo & Company by 16.4% in the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after buying an additional 21,496 shares during the last quarter. 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.