Wells Fargo & Company (NYSE:WFC) Receives $92.04 Average PT from Brokerages

by · The Markets Daily

Shares of Wells Fargo & Company (NYSE:WFC) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $92.0357.

Several equities research analysts have weighed in on WFC shares. TD Cowen raised their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Citigroup upped their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th.

View Our Latest Analysis on WFC

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $94.48 on Friday. The company has a market capitalization of $296.57 billion, a PE ratio of 15.54, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $87.28 and a two-hundred day simple moving average of $82.68. Wells Fargo & Company has a one year low of $58.42 and a one year high of $94.68.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the period. Vanguard Group Inc. grew its stake in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Norges Bank purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at about $3,990,551,000. Capital Research Global Investors increased its holdings in shares of Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after purchasing an additional 5,584,930 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Wells Fargo & Company by 1.9% in the third quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after purchasing an additional 399,088 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company News Roundup

Here are the key news stories impacting Wells Fargo & Company this week:

Wells Fargo & Company Company Profile

(Get Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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