Wells Fargo & Company (NYSE:WFC) PT Lowered to $67.00 at Morgan Stanley

Wells Fargo & Company (NYSE:WFC) had its target price decreased by Morgan Stanley from $68.00 to $67.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

WFC has been the subject of several other reports. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $62.00 to $61.00 and set a market perform rating for the company in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a market perform rating in a research report on Thursday, July 11th. Jefferies Financial Group downgraded Wells Fargo & Company to a hold rating and decreased their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a hold rating to a buy rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of Hold and a consensus target price of $60.41.

Wells Fargo & Company Trading Down 0.2 %

Shares of WFC stock opened at $55.30 on Monday. The business has a 50-day moving average of $55.52 and a 200 day moving average of $57.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The stock has a market capitalization of $192.79 billion, a PE ratio of 11.36, a P/E/G ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Hedge Funds Weigh In On Wells Fargo & Company

A number of hedge funds have recently bought and sold shares of the company. Abacus Planning Group Inc. lifted its stake in shares of Wells Fargo & Company by 14.4% in the third quarter. Abacus Planning Group Inc. now owns 5,073 shares of the financial services provider’s stock worth $287,000 after buying an additional 640 shares in the last quarter. M&R Capital Management Inc. lifted its position in Wells Fargo & Company by 26.4% in the 3rd quarter. M&R Capital Management Inc. now owns 5,006 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 1,044 shares in the last quarter. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Alternative Investment Advisors LLC. purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at $276,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Wells Fargo & Company by 39.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,339,800 shares of the financial services provider’s stock worth $138,961,000 after purchasing an additional 660,800 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

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.