Wells Fargo & Company (NYSE:WFC) Trading 0.8% Higher

Wells Fargo & Company (NYSE:WFC)’s share price traded up 0.8% on Tuesday . The company traded as high as $59.52 and last traded at $59.51. 2,469,530 shares were traded during trading, a decline of 86% from the average session volume of 18,146,867 shares. The stock had previously closed at $59.01.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Morgan Stanley upped their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group upped their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. 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, the stock presently has a consensus rating of “Hold” and an average price target of $59.52.

Wells Fargo & Company Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $59.54 and a 200-day moving average of $55.69. The stock has a market capitalization of $209.67 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.45 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Advisors Inc. grew its position in Wells Fargo & Company by 12.4% during the 2nd quarter. Cambridge Advisors Inc. now owns 7,714 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 852 shares during the period. CHICAGO TRUST Co NA grew its position in Wells Fargo & Company by 6.3% during the 2nd quarter. CHICAGO TRUST Co NA now owns 12,804 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 756 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth about $42,108,000. John W. Brooker & Co. CPAs grew its position in Wells Fargo & Company by 2.5% during the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the period. Finally, Juncture Wealth Strategies LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $204,000. 75.90% of the stock is owned by institutional investors and hedge funds.

About Wells Fargo & Company

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.