Wells Fargo & Company (NYSE:WFC) Earns “Market Perform” Rating from Oppenheimer

Oppenheimer restated their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a research note issued to investors on Monday, Benzinga reports.

A number of other equities research analysts have also weighed in on the company. Compass Point restated a neutral rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Odeon Capital Group lowered Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a hold rating in a research report on Thursday, March 28th. Finally, Raymond James upped their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a strong-buy rating in a research report on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of Hold and an average price target of $58.85.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $57.18 on Monday. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44. The firm has a market capitalization of $202.44 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.15 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $55.42 and its 200-day simple moving average is $48.61.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is presently 29.23%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. Northern Trust Corp raised its stake in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares during the period. Capital World Investors raised its stake in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after buying an additional 26,267,166 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Wells Fargo & Company by 31.3% during the 4th quarter. Legal & General Group Plc now owns 25,640,835 shares of the financial services provider’s stock worth $1,262,043,000 after buying an additional 6,118,817 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

About Wells Fargo & Company

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.