Wells Fargo & Company (NYSE:WFC) Trading 0.6% Higher – Here’s Why

Wells Fargo & Company (NYSE:WFC) shares traded up 0.6% on Wednesday . The stock traded as high as $75.38 and last traded at $74.72. 1,827,574 shares were traded during mid-day trading, a decline of 89% from the average session volume of 16,334,933 shares. The stock had previously closed at $74.24.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup lowered their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price target 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. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Wells Fargo & Company Stock Down 0.6 %

The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a 50-day moving average of $76.09 and a 200 day moving average of $69.76. The stock has a market capitalization of $242.59 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business earned $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. Wells Fargo & Company’s payout ratio is 29.74%.

Hedge Funds Weigh In On Wells Fargo & Company

A number of institutional investors have recently bought and sold shares of the business. CWC Advisors LLC. boosted its position in shares of Wells Fargo & Company by 2.2% in the fourth quarter. CWC Advisors LLC. now owns 16,796 shares of the financial services provider’s stock valued at $1,180,000 after acquiring an additional 365 shares during the period. 111 Capital bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at $776,000. NorthCrest Asset Manangement LLC boosted its stake in shares of Wells Fargo & Company by 1.2% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 176,604 shares of the financial services provider’s stock valued at $12,405,000 after purchasing an additional 2,129 shares in the last quarter. Northstar Financial Companies Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $638,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $514,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

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.