Wells Fargo & Co. Rating Reiterated by TheStreet (WFC)
Wells Fargo & Co. (NYSE:WFC)‘s stock had its “buy” rating reaffirmed by equities researchers at TheStreet in a research report issued on Wednesday, AnalystRatings.Net reports.
The analysts wrote, “Wells Fargo (WFC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, expanding profit margins, notable return on equity and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Wells Fargo & Co. (NYSE:WFC) traded down 0.24% during mid-day trading on Wednesday, hitting $45.97. The stock had a trading volume of 1,707,321 shares. Wells Fargo & Co. has a 52 week low of $34.60 and a 52 week high of $46.84. The stock has a 50-day moving average of $45.74 and a 200-day moving average of $43.62. The company has a market cap of $241.7 billion and a P/E ratio of 11.85.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data on Monday, January 13th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, March 1st. Shareholders 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 2.60%. The ex-dividend date is Wednesday, February 5th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Wednesday, January 15th. They now have a $48.00 price target on the stock. Separately, analysts at Compass Point raised their price target on shares of Wells Fargo & Co. from $42.00 to $47.00 in a research note on Wednesday, January 15th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Wells Fargo & Co. from $47.00 to $51.00 in a research note on Wednesday, January 15th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & Co. has an average rating of “Hold” and a consensus price target of $46.24.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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