Wells Fargo & Company (NYSE:WFC) Price Target Lowered to $65.00 at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its price objective trimmed by Evercore ISI from $67.00 to $65.00 in a report issued on Friday, Marketbeat Ratings reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. Jefferies Financial Group downgraded Wells Fargo & Company to a hold rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a hold rating to a buy rating and set a $65.00 price objective for the company in a report on Tuesday. BMO Capital Markets raised their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a market perform rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a market perform rating for the company in a research note on Monday, July 15th. Twelve 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 stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of Hold and an average target price of $60.29.

Wells Fargo & Company Trading Down 5.0 %

Shares of NYSE:WFC opened at $54.01 on Friday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The business has a 50 day moving average of $57.31 and a 200-day moving average of $57.88. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock has a market cap of $188.30 billion, a PE ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds have recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $34,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds 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.