Wells Fargo & Company (NYSE:WFC) Rating Reiterated by Oppenheimer

Oppenheimer reissued their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a research report sent to investors on Monday morning, Benzinga reports.

Other analysts have also issued research reports about the company. Morgan Stanley increased their price target on Wells Fargo & Company from $54.00 to $63.00 and gave the company an overweight rating in a report on Tuesday, January 30th. 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 report on Thursday, January 18th. Compass Point restated a neutral rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Jefferies Financial Group increased their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a hold rating in a report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $58.85.

Wells Fargo & Company Stock Up 2.7 %

NYSE WFC opened at $58.74 on Monday. 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 company has a market capitalization of $207.96 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a one year low of $36.40 and a one year high of $59.13. The stock has a 50 day moving average price of $55.63 and a 200-day moving average price of $48.68.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.38%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Institutional Trading of Wells Fargo & Company

Several institutional investors and hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 7.8% in the first quarter. MV Capital Management Inc. now owns 15,303 shares of the financial services provider’s stock valued at $887,000 after acquiring an additional 1,107 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in Wells Fargo & Company by 18.0% in the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,184 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 791 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Wells Fargo & Company by 28.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after purchasing an additional 106,260 shares during the last quarter. Tributary Capital Management LLC grew its stake in Wells Fargo & Company by 19.5% in the first quarter. Tributary Capital Management LLC now owns 11,650 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in Wells Fargo & Company by 1.2% in the first quarter. Miracle Mile Advisors LLC now owns 20,454 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 235 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

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.