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

Wells Fargo & Company (NYSE:WFC) dropped 0.8% during trading on Monday . The stock traded as low as $59.70 and last traded at $59.88. Approximately 1,536,512 shares were traded during trading, a decline of 92% from the average daily volume of 18,160,551 shares. The stock had previously closed at $60.39.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI reissued an “outperform” rating and issued a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Argus upped their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.52.

Wells Fargo & Company Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $209.20 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.46 and a beta of 1.17. The stock’s fifty day moving average price is $59.10 and its two-hundred day moving average price is $56.75.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.67%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WFC. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $2,623,044,000. Capital World Investors lifted its stake in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after acquiring an additional 263,176 shares during the last quarter. Sanders Capital LLC boosted its holdings in shares of Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after acquiring an additional 781,772 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after acquiring an additional 526,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Wells Fargo & Company by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after purchasing an additional 596,521 shares in 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.