Wells Fargo & Co (WFC) Earns “Outperform” Rating from Keefe, Bruyette & Woods

Wells Fargo & Co (NYSE:WFC)‘s stock had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research report issued on Monday, June 12th.

WFC has been the topic of a number of other reports. Credit Suisse Group reaffirmed a “hold” rating and issued a $56.00 target price on shares of Wells Fargo & Co in a research report on Friday, March 3rd. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $55.28 target price on the stock in a research report on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $62.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, April 5th. Piper Jaffray Companies raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and upped their price target for the company from $54.84 to $55.00 in a research report on Monday, April 10th. Finally, Sandler O’Neill reissued a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Tuesday, April 11th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.37.

Analyst Recommendations for Wells Fargo & Co (NYSE:WFC)

Wells Fargo & Co (NYSE WFC) traded down 1.18% during midday trading on Monday, hitting $53.60. 5,433,320 shares of the stock traded hands. Wells Fargo & Co has a 12-month low of $43.55 and a 12-month high of $59.99. The firm has a market cap of $267.86 billion, a P/E ratio of 13.40 and a beta of 0.97. The company’s 50-day moving average is $53.39 and its 200 day moving average is $55.31. Wells Fargo & Co also was the recipient of unusually large options trading on Monday. Stock traders bought 23,470 put options on the stock. This is an increase of 113% compared to the average volume of 11,003 put options.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.25 billion. Wells Fargo & Co had a return on equity of 11.55% and a net margin of 25.22%. Wells Fargo & Co’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. On average, analysts anticipate that Wells Fargo & Co will post $4.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $1.52 annualized dividend and a dividend yield of 2.80%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 38.00%.

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In other Wells Fargo & Co news, Director Stephen W. Sanger acquired 58,342 shares of the business’s stock in a transaction on Monday, April 17th. The stock was purchased at an average price of $51.65 per share, for a total transaction of $3,013,364.30. Following the transaction, the director now owns 100 shares in the company, valued at approximately $5,165. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Sargent acquired 9,050 shares of the business’s stock in a transaction on Friday, May 5th. The stock was acquired at an average price of $55.15 per share, with a total value of $499,107.50. Following the transaction, the director now owns 81 shares in the company, valued at approximately $4,467.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 106,392 shares of company stock valued at $5,526,822 and have sold 231,278 shares valued at $12,361,120. 0.22% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Cpcm LLC increased its position in shares of Wells Fargo & Co by 4.2% in the first quarter. Cpcm LLC now owns 58,623 shares of the financial services provider’s stock valued at $3,263,000 after buying an additional 2,338 shares during the last quarter. Atlantic Trust LLC increased its position in shares of Wells Fargo & Co by 1.3% in the first quarter. Atlantic Trust LLC now owns 45,321 shares of the financial services provider’s stock valued at $2,523,000 after buying an additional 562 shares during the last quarter. Blueport Capital L.P. increased its position in shares of Wells Fargo & Co by 91.8% in the first quarter. Blueport Capital L.P. now owns 4,008 shares of the financial services provider’s stock valued at $223,000 after buying an additional 1,918 shares during the last quarter. Watermark Asset Management Inc. acquired a new position in shares of Wells Fargo & Co during the first quarter valued at about $158,000. Finally, Sowell Financial Services LLC increased its position in shares of Wells Fargo & Co by 15.3% in the first quarter. Sowell Financial Services LLC now owns 58,019 shares of the financial services provider’s stock valued at $3,080,000 after buying an additional 7,704 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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