Wells Fargo & Company (NYSE:WFC) Stock Price Down 0.2% – Here’s What Happened

Wells Fargo & Company (NYSE:WFC) shares traded down 0.2% during trading on Thursday . The company traded as low as $72.48 and last traded at $73.29. 2,009,077 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 16,329,955 shares. The stock had previously closed at $73.47.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Price Performance

The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50 day moving average price is $76.04 and its 200 day moving average price is $69.79. The stock has a market capitalization of $236.85 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of hedge funds have recently modified their holdings of WFC. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. increased its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.