Wells Fargo & Company (NYSE:WFC) Upgraded by Robert W. Baird to Neutral Rating

Robert W. Baird upgraded shares of Wells Fargo & Company (NYSE:WFC) from an underperform rating to a neutral rating in a research report report published on Friday morning, Marketbeat reports. They currently have $85.00 price objective on the financial services provider’s stock.

WFC has been the topic of a number of other research reports. UBS Group reiterated a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Barclays boosted their price objective on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wolfe Research reaffirmed an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Finally, Evercore dropped their target price on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Wells Fargo & Company Price Performance

WFC stock opened at $86.94 on Friday. The firm has a 50 day moving average of $91.80 and a 200-day moving average of $85.88. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The firm has a market capitalization of $272.92 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. Wells Fargo & Company’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Institutional Trading of Wells Fargo & Company

Several hedge funds have recently added to or reduced their stakes in the business. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $25,000. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Navalign LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $27,000. Finally, Marquette Asset Management LLC grew its holdings in shares of Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.