Wells Fargo & Company (NYSE:WFC) Stock Price Down 4.3% – Time to Sell?

Wells Fargo & Company (NYSE:WFC) shares dropped 4.3% during trading on Friday . The company traded as low as $59.65 and last traded at $60.39. Approximately 12,793,469 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 17,565,308 shares. The stock had previously closed at $63.11.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WFC. Piper Sandler upgraded Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price objective for the company in a report on Tuesday. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.66.

Wells Fargo & Company Stock Down 0.4 %

The stock has a market cap of $205.20 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average is $73.17 and its 200 day moving average is $70.81.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds have recently modified their holdings of the business. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the fourth quarter worth $28,000. Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. 75.90% of the stock is owned by 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.