Published On: Thu, Sep 22nd, 2016

Wells Fargo & Co. (WFC) Given New $50.00 Price Target at Deutsche Bank AG

Wells Fargo & Co. (NYSE:WFC) had its price objective reduced by Deutsche Bank AG from $59.00 to $50.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price target indicates a potential upside of 9.10% from the company’s previous close.
A number of other brokerages have also commented on WFC. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. FBR & Co restated a “buy” rating and set a $63.00 price objective on shares of Wells Fargo & Co. in a research report on Wednesday, June 1st. Vetr lowered Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 price objective for the company. in a research report on Tuesday, August 30th. Royal Bank Of Canada restated a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Finally, Drexel Hamilton restated a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Wells Fargo & Co. currently has a consensus rating of “Hold” and an average price target of $51.65.

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.295% during mid-day trading on Thursday, reaching $45.965. 7,377,260 shares of the company’s stock traded hands. The company has a market capitalization of $231.92 billion, a P/E ratio of 11.349 and a beta of 0.90. The firm has a 50-day moving average price of $48.39 and a 200-day moving average price of $48.61. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34.

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Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business earned $22.20 billion during the quarter. During the same quarter last year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.32%. Wells Fargo & Co.’s payout ratio is currently 37.25%.
In related news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC bought a new stake in Wells Fargo & Co. during the first quarter worth approximately $93,093,000. Global X Management Co. LLC increased 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 in the last quarter. Brick & Kyle Associates increased its stake in Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock worth $152,000 after buying an additional 303 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock worth $154,000 after buying an additional 147 shares in the last quarter. Finally, Cedar Wealth Management LLC increased its stake in Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 73.98% of the company’s stock.
Wells Fargo & Co. Company Profile
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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