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

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Jefferies Financial Group increased their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Thirteen 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.52.

Wells Fargo & Company Stock Up 0.7 %

The firm’s 50-day moving average price is $59.54 and its 200 day moving average price is $55.69. The firm has a market capitalization of $209.67 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

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 the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Institutional Trading of Wells Fargo & Company

A number of hedge funds have recently bought and sold shares of WFC. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds 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.