Wells Fargo & Company (NYSE:WFC) Shares Down 0.2% – What’s Next?

Wells Fargo & Company (NYSE:WFC)’s stock price traded down 0.2% during mid-day trading on Thursday . The company traded as low as $72.48 and last traded at $73.29. 2,009,077 shares were traded during trading, a decline of 88% from the average session volume of 16,329,955 shares. The stock had previously closed at $73.47.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $74.97.

Wells Fargo & Company Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $75.84 and its 200-day moving average price is $69.92. The stock has a market capitalization of $230.87 billion, a PE ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. BNP Paribas purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $28,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Finally, Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.