Wells Fargo & Company (NYSE:WFC) Trading Down 0.2% – Time to Sell?

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock 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 stock has a market capitalization of $236.85 billion, a PE ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. The firm has a fifty day moving average price of $76.04 and a two-hundred day moving average price of $69.79.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its holdings in Wells Fargo & Company by 21.8% during the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 1,097 shares during the period. Fisher Asset Management LLC increased its stake in shares of Wells Fargo & Company by 13.8% during the third quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock valued at $1,403,000 after buying an additional 3,016 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wells Fargo & Company in the third quarter valued at about $256,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter worth about $29,000. Finally, Transamerica Financial Advisors Inc. lifted its stake in Wells Fargo & Company by 44.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 9,544 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 2,940 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

About Wells Fargo & Company

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.