Wells Fargo & Co (WFC) Given Average Rating of “Hold” by Analysts
Shares of Wells Fargo & Co (NYSE:WFC) have earned a consensus recommendation of “Hold” from the thirty analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $62.71.
A number of analysts have recently weighed in on WFC shares. Vetr downgraded shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research report on Monday, January 8th. Sanford C. Bernstein raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday, January 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Thursday, January 4th.
In other news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Sargent purchased 9,000 shares of Wells Fargo & Co stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, with a total value of $503,820.00. Following the acquisition, the director now owns 81 shares of the company’s stock, valued at approximately $4,534.38. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.
Shares of Wells Fargo & Co (NYSE:WFC) opened at $57.41 on Friday. The stock has a market cap of $282,700.00, a P/E ratio of 14.00, a PEG ratio of 1.53 and a beta of 1.08. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. sell-side analysts forecast that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is presently 38.05%.
Wells Fargo & Co declared that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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Wells Fargo & Co Company Profile
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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