Wells Fargo & Company (NYSE:WFC) Trading Up 0.5% – Time to Buy?

Wells Fargo & Company (NYSE:WFC)’s stock price traded up 0.5% during mid-day trading on Monday . The company traded as high as $70.85 and last traded at $71.01. 2,328,261 shares changed hands during trading, a decline of 86% from the average session volume of 17,082,392 shares. The stock had previously closed at $70.69.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays boosted 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. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Stock Performance

The firm has a fifty day simple moving average of $75.60 and a 200-day simple moving average of $70.42. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $232.72 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Spinnaker Trust grew its position in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after buying an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 130 shares during the period. MONECO Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 134 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its position in Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 137 shares during the period. Finally, Crown Wealth Group LLC grew its holdings in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds 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.