Oppenheimer Reiterates “Market Perform” Rating for Wells Fargo & Company (NYSE:WFC)

Oppenheimer restated their market perform rating on shares of Wells Fargo & Company (NYSE:WFC) in a report released on Monday, Benzinga reports.

Several other analysts also recently issued reports on WFC. Raymond James lifted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a strong-buy rating in a research note on Tuesday, January 16th. StockNews.com downgraded Wells Fargo & Company from a hold rating to a sell rating in a research note on Thursday, April 4th. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a hold rating in a research note on Monday, April 8th. Citigroup reissued a neutral rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Compass Point reissued a neutral rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen 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.com, Wells Fargo & Company currently has an average rating of Hold and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

WFC stock opened at $56.97 on Monday. The business’s 50-day moving average price is $55.08 and its two-hundred day moving average price is $48.44. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $201.70 billion, a PE ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 4.68 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is presently 29.23%.

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors have recently made changes to their positions in the company. Kathmere Capital Management LLC boosted its holdings in shares of Wells Fargo & Company by 19.5% during the third quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 1,185 shares during the period. Stoneridge Investment Partners LLC boosted its holdings in shares of Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares during the period. United Services Automobile Association boosted its holdings in shares of Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp boosted its holdings in shares of Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $5,143,000. Institutional investors own 75.90% of the company’s stock.

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.