Wells Fargo & Company (NYSE:WFC) Issues Quarterly Earnings Results

Wells Fargo & Company (NYSE:WFC) issued its earnings results on Wednesday. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08, Zacks reports. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%.

Wells Fargo & Company Trading Up 0.8 %

WFC stock opened at $71.07 on Wednesday. The company has a market capitalization of $236.63 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company’s 50 day moving average price is $72.41 and its two-hundred day moving average price is $63.15.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Barclays lifted their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

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.