Brokerages Set Wells Fargo & Company (NYSE:WFC) PT at $74.39

Shares of Wells Fargo & Company (NYSE:WFC) have received a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $74.18.

Several brokerages have commented on WFC. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Finally, Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors have recently made changes to their positions in the stock. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. BNP Paribas acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $28,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $74.27 on Friday. 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 simple moving average is $76.09 and its 200-day simple moving average is $69.76. The firm has a market capitalization of $244.21 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company Company Profile

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.