Wells Fargo & Company (NYSE:WFC) Given New $85.00 Price Target at Truist Financial

Wells Fargo & Company (NYSE:WFC) had its target price lifted by Truist Financial from $82.00 to $85.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays increased their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC opened at $75.94 on Thursday. The stock’s 50-day moving average is $72.47 and its two-hundred day moving average is $63.24. The stock has a market cap of $252.85 billion, a PE ratio of 15.79, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WFC. Monterey Private Wealth Inc. lifted its stake in Wells Fargo & Company by 20.0% in the fourth quarter. Monterey Private Wealth Inc. now owns 4,776 shares of the financial services provider’s stock valued at $335,000 after buying an additional 795 shares during the last quarter. Chesley Taft & Associates LLC increased its holdings in shares of Wells Fargo & Company by 37.8% in the 4th quarter. Chesley Taft & Associates LLC now owns 195,896 shares of the financial services provider’s stock worth $13,760,000 after acquiring an additional 53,773 shares during the period. Clear Harbor Asset Management LLC lifted its position in Wells Fargo & Company by 2.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 53,149 shares of the financial services provider’s stock valued at $3,733,000 after purchasing an additional 1,381 shares during the last quarter. Charles Schwab Trust Co bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $238,000. Finally, Royal Fund Management LLC boosted its stake in Wells Fargo & Company by 232.1% during the 4th quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock valued at $4,470,000 after purchasing an additional 44,472 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Company Profile

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.