Todays Report: Today: Wells Fargo & Co. (WFC) Rating Reiterate by Jefferies Group

Today: Wells Fargo & Co. (WFC) Rating Reiterate by Jefferies Group

Wells Fargo & Co. (NYSE:WFC)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group in a research report issued on Monday.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $53.50 to $48.00 in a research note on Wednesday, September 21st. Macquarie reissued an “underperform” rating on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $57.00 price target on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Argus reissued a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, October 13th. Finally, Citigroup Inc. lowered Wells Fargo & Co. to an “underperform” rating in a research note on Friday, November 18th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Wells Fargo & Co. currently has an average rating of “Hold” and an average price target of $49.56.

Wells Fargo & Co. (NYSE:WFC) traded down 1.41% during midday trading on Monday, hitting $51.88. The stock had a trading volume of 7,967,889 shares. The stock has a market cap of $260.56 billion, a PE ratio of 12.87 and a beta of 0.93. The company’s 50 day moving average price is $47.64 and its 200-day moving average price is $47.87. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The firm earned $22.30 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. Wells Fargo & Co.’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. Analysts forecast that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.89%. Wells Fargo & Co.’s payout ratio is currently 37.44%.

Several institutional investors have recently made changes to their positions in the stock. Integrated Wealth Counsel LLC raised its stake in Wells Fargo & Co. by 17.8% in the third quarter. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider’s stock worth $107,000 after buying an additional 363 shares during the period. Global X Management Co. LLC raised its stake in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock worth $109,000 after buying an additional 905 shares during the period. Coconut Grove Bank raised its stake in Wells Fargo & Co. by 54.9% in the third quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider’s stock worth $112,000 after buying an additional 900 shares during the period. Cable Hill Partners LLC raised its stake in Wells Fargo & Co. by 10.5% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider’s stock worth $117,000 after buying an additional 247 shares during the period. Finally, Timber Creek Capital Management LLC raised its stake in Wells Fargo & Co. by 30.0% in the third quarter. Timber Creek Capital Management LLC now owns 3,033 shares of the financial services provider’s stock worth $134,000 after buying an additional 700 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Co. Company Profile

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