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

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WFC. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group boosted their price objective 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. Argus increased their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Thirteen research 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. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $59.52.

Wells Fargo & Company Stock Performance

The firm has a market capitalization of $209.20 billion, a PE ratio of 12.32, a PEG ratio of 1.46 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $59.10 and a 200 day moving average of $56.75.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WFC. NBT Bank N A NY increased its stake in shares of Wells Fargo & Company by 16.0% during the second quarter. NBT Bank N A NY now owns 46,477 shares of the financial services provider’s stock valued at $2,761,000 after buying an additional 6,408 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Wells Fargo & Company by 21.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 40,760 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 7,235 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Wells Fargo & Company by 42.0% in the 2nd quarter. Legacy Advisors LLC now owns 12,259 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 3,626 shares during the period. Abacus Planning Group Inc. lifted its position in shares of Wells Fargo & Company by 9.5% in the 2nd quarter. Abacus Planning Group Inc. now owns 4,433 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 383 shares during the period. Finally, WP Advisors LLC boosted its stake in shares of Wells Fargo & Company by 1.7% during the 2nd quarter. WP Advisors LLC now owns 18,302 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 307 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.