Wells Fargo & Company (NYSE:WFC) Sets New 1-Year Low at $36.55

Wells Fargo & Company (NYSE:WFC)’s share price reached a new 52-week low on Thursday . The stock traded as low as $36.55 and last traded at $36.90, with a volume of 383259 shares changing hands. The stock had previously closed at $38.17.

Several research analysts recently commented on WFC shares. BMO Capital Markets reduced their target price on shares of Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, April 18th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, March 31st. Barclays raised their price target on shares of Wells Fargo & Company from $62.00 to $64.00 in a research note on Monday, April 18th. Finally, Raymond James dropped their price objective on shares of Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $58.50.

The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $44.16 and a 200-day moving average price of $49.30. The firm has a market cap of $145.85 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.92 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is presently 20.79%.

In related news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the transaction, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. boosted its position in shares of Wells Fargo & Company by 7.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 75,246 shares of the financial services provider’s stock valued at $3,610,000 after purchasing an additional 5,248 shares during the period. United Capital Financial Advisers LLC raised its stake in shares of Wells Fargo & Company by 20.4% during the 3rd quarter. United Capital Financial Advisers LLC now owns 478,446 shares of the financial services provider’s stock worth $22,205,000 after buying an additional 81,211 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Wells Fargo & Company by 10.0% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 13,645 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 1,244 shares in the last quarter. Weiss Multi Strategy Advisers LLC increased its stake in Wells Fargo & Company by 56.7% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 996,217 shares of the financial services provider’s stock valued at $47,798,000 after purchasing an additional 360,635 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in Wells Fargo & Company by 1.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 20,651 shares of the financial services provider’s stock valued at $991,000 after buying an additional 321 shares during the last quarter. Institutional investors own 74.01% of the company’s stock.

Wells Fargo & Company Company Profile (NYSE:WFC)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.