Wells Fargo & Company (NYSE:WFC) Stock Price Down 1.7%

Shares of Wells Fargo & Company (NYSE:WFC) were down 1.7% during trading on Friday . The company traded as low as $59.53 and last traded at $59.65. Approximately 1,938,395 shares traded hands during trading, a decline of 89% from the average daily volume of 18,242,541 shares. The stock had previously closed at $60.66.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Argus raised their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.36.

Wells Fargo & Company Trading Down 2.3 %

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $206.53 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The business’s fifty day simple moving average is $59.55 and its 200 day simple moving average is $55.37.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company during the fourth quarter worth $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Company Profile

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