Wells Fargo & Company (NYSE:WFC) Shares Down 0.2% – Should You Sell?

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

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.97.

Wells Fargo & Company Trading Down 2.2 %

The stock’s fifty day simple moving average is $75.84 and its 200-day simple moving average is $69.92. 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 firm has a market cap of $230.87 billion, a PE ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Hedge Funds Weigh In On Wells Fargo & Company

A number of institutional investors have recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company during the fourth quarter valued at $28,000. BNP Paribas purchased a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. grew its position in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Finally, Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. 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.