Wells Fargo & Company (WFC) Receives Consensus Rating of “Hold” from Analysts
Wells Fargo & Company (NYSE:WFC) has been given an average recommendation of “Hold” by the thirty-six brokerages that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.28.
WFC has been the subject of several recent analyst reports. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and raised their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Vetr raised shares of Wells Fargo & to a “strong-buy” rating in a research report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Keefe, Bruyette & Woods set a $62.00 price objective on shares of Wells Fargo & and gave the stock a “buy” rating in a research report on Friday, May 19th. Finally, Zacks Investment Research downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th.
In related news, insider Petros G. Pelos sold 24,708 shares of Wells Fargo & stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.07, for a total value of $1,335,961.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Delphi Private Advisors LLC grew its holdings in Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Alexandria Capital LLC grew its holdings in Wells Fargo & by 0.3% during the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Brick & Kyle Associates grew its holdings in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in Wells Fargo & during the 2nd quarter valued at about $104,000. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in Wells Fargo & by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares in the last quarter. 75.19% of the stock is owned by institutional investors.
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Wells Fargo & (NYSE:WFC) opened at 49.58 on Friday. The company has a market cap of $246.11 billion, a price-to-earnings ratio of 12.21 and a beta of 0.96. Wells Fargo & has a 52 week low of $43.55 and a 52 week high of $59.99. The firm has a 50-day moving average of $52.39 and a 200-day moving average of $54.28.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Equities analysts forecast that Wells Fargo & will post $4.16 earnings per share for the current year.
Wells Fargo & announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 3.15%. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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