Wells Fargo & Co. Receives Average Recommendation of “Hold” from Brokerages (NYSE:WFC)
Wells Fargo & Co. (NYSE:WFC) has received an average recommendation of “Hold” from the thirty-two ratings firms that are currently covering the stock, StockRatingsNetwork.com reports. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $45.87.
A number of research firms have recently commented on WFC. Analysts at TheStreet reiterated a “buy” rating on shares of Wells Fargo & Co. in a research note to investors on Tuesday, January 21st. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Wednesday, January 15th. They now have a $48.00 price target on the stock. Finally, analysts at Compass Point raised their price target on shares of Wells Fargo & Co. from $42.00 to $47.00 in a research note to investors on Wednesday, January 15th. They now have a “neutral” rating on the stock.
In other Wells Fargo & Co. news, CFO Timothy Sloan sold 75,000 shares of Wells Fargo & Co. stock on the open market in a transaction dated Friday, January 24th. The shares were sold at an average price of $45.84, for a total value of $3,438,000.00. Following the sale, the chief financial officer now directly owns 314,873 shares in the company, valued at approximately $14,433,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Wells Fargo & Co. (NYSE:WFC) traded down 2.01% on Monday, hitting $44.43. The stock had a trading volume of 29,578,408 shares. Wells Fargo & Co. has a one year low of $34.52 and a one year high of $46.84. The stock has a 50-day moving average of $45.50 and a 200-day moving average of $43.43. The company has a market cap of $233.6 billion and a P/E ratio of 11.66. Wells Fargo & Co. also was the recipient of unusually large options trading on Monday. Traders purchased 39,931 put options on the company. This represents an increase of 221% compared to the average volume of 12,455 put options.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data on Monday, January 13th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.98 by $0.02. The company had revenue of $20.70 billion for the quarter, compared to the consensus estimate of $20.63 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of 0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, February 5th.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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