Morgan Stanley Trims Wells Fargo & Company (NYSE:WFC) Target Price to $67.00

Wells Fargo & Company (NYSE:WFC) had its price target reduced by Morgan Stanley from $68.00 to $67.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a buy rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a hold rating to a buy rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group cut shares of Wells Fargo & Company to a hold rating and lowered their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a market perform rating in a report on Thursday, July 11th. Finally, Evercore ISI decreased their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an outperform rating for the company in a report on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $60.41.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $54.98 on Monday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $55.43 and a 200-day moving average price of $57.76. The firm has a market capitalization of $191.68 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $26,000. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

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.