Wells Fargo & Co.’s (WFC) Outperform Rating Reiterated at Credit Agricole SA
Wells Fargo & Co. (NYSE:WFC)‘s stock had its “outperform” rating reiterated by Credit Agricole SA in a research report issued to clients and investors on Tuesday. They currently have a $57.00 target price on the financial services provider’s stock. Credit Agricole SA’s target price suggests a potential upside of 23.89% from the company’s current price.
Several other equities analysts also recently issued reports on WFC. Credit Suisse Group AG reissued a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & Co. in a research report on Wednesday, May 25th. Evercore ISI reissued a “buy” rating and issued a $53.00 target price on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Drexel Hamilton reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Royal Bank Of Canada reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Finally, FBR & Co reissued a “buy” rating and issued a $63.00 target price on shares of Wells Fargo & Co. in a research report on Wednesday, June 1st. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. Wells Fargo & Co. presently has a consensus rating of “Hold” and an average target price of $52.26.
Shares of Wells Fargo & Co. (NYSE:WFC) opened at 46.99 on Tuesday. Wells Fargo & Co. has a one year low of $44.50 and a one year high of $56.34. The company has a market capitalization of $237.09 billion, a PE ratio of 11.60 and a beta of 0.90. The stock has a 50 day moving average price of $48.48 and a 200 day moving average price of $48.66.
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Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The firm had revenue of $22.20 billion for the quarter. During the same period in the previous year, the company earned $1.03 earnings per share. Wells Fargo & Co.’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Co. will post $4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were paid a $0.38 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.30%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.25%.
In other news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC purchased a new stake in Wells Fargo & Co. during the second quarter valued at about $1,032,000. Williams Jones & Associates LLC boosted its stake in Wells Fargo & Co. by 19.5% in the second quarter. Williams Jones & Associates LLC now owns 142,310 shares of the financial services provider’s stock valued at $6,736,000 after buying an additional 23,267 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Wells Fargo & Co. during the second quarter valued at about $8,829,000. Kentucky Retirement Systems purchased a new stake in Wells Fargo & Co. during the second quarter valued at about $18,595,000. Finally, Mason Street Advisors LLC purchased a new stake in Wells Fargo & Co. during the second quarter valued at about $29,454,000. 74.01% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Co. Company Profile
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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