Wells Fargo & Company (NYSE:WFC) Sets New 12-Month High at $58.75

Wells Fargo & Company (NYSE:WFC) shares reached a new 52-week high during trading on Thursday . The company traded as high as $58.75 and last traded at $58.67, with a volume of 5376050 shares. The stock had previously closed at $57.18.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday. Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. HSBC raised their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Up 2.3 %

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $207.15 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.10 and a beta of 1.19. The firm has a fifty day moving average price of $55.42 and a 200 day moving average price of $48.61.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Hedge Funds Weigh In On Wells Fargo & Company

Several hedge funds have recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC increased its position in 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 buying an additional 54,262 shares in the last quarter. United Services Automobile Association raised its stake in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after purchasing an additional 11,825 shares during the last quarter. Synovus Financial Corp lifted its holdings in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $2,499,000. Finally, Golden State Equity Partners grew its holdings in shares of Wells Fargo & Company by 98.8% during the third quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after buying an additional 30,316 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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.