Wells Fargo & Co (NYSE:WFC) released its quarterly earnings data on Friday. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04), MarketWatch Earnings reports. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%.
Shares of NYSE:WFC opened at $52.11 on Friday. Wells Fargo & Co has a 52-week low of $50.26 and a 52-week high of $66.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $256.37 billion, a PE ratio of 12.68, a PEG ratio of 1.43 and a beta of 1.15.
Several equities research analysts have weighed in on WFC shares. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Macquarie decreased their target price on Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, September 17th. Morgan Stanley raised Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $57.00 to $62.00 in a research report on Monday, July 2nd. Finally, Wolfe Research initiated coverage on Wells Fargo & Co in a research report on Tuesday, September 25th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $64.22.
In related news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now owns 109 shares of the company’s stock, valued at approximately $6,323.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
An institutional investor recently bought a new position in Wells Fargo & Co stock. HC Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Co (NYSE:WFC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 36,789 shares of the financial services provider’s stock, valued at approximately $2,232,000. Wells Fargo & Co makes up approximately 2.2% of HC Financial Advisors Inc.’s holdings, making the stock its 14th largest position. 77.57% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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