Wells Fargo & Company (NYSE:WFC) Stock Price Down 0.8% – Should You Sell?

Shares of Wells Fargo & Company (NYSE:WFC) fell 0.8% during mid-day trading on Tuesday . The stock traded as low as $70.12 and last traded at $71.25. 2,030,171 shares traded hands during trading, a decline of 87% from the average session volume of 15,810,716 shares. The stock had previously closed at $71.79.

Analyst Ratings Changes

A number of research firms have recently commented on WFC. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Trading Down 1.8 %

The stock has a market cap of $230.14 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business has a fifty day simple moving average of $75.73 and a 200 day simple moving average of $70.29.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $3,365,658,000. Northern Trust Corp raised its holdings in shares of Wells Fargo & Company by 10.7% during the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock worth $1,430,742,000 after buying an additional 238,131 shares during the last quarter. Capital Research Global Investors lifted its holdings in Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Wells Fargo & Company by 0.4% during the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock worth $977,338,000 after buying an additional 62,099 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

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.