Brokerages Set Wells Fargo & Company (NYSE:WFC) PT at $73.39

Wells Fargo & Company (NYSE:WFC) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $73.39.

Several research firms have recently weighed in on WFC. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $198,801,000. Brucke Financial Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,013,000. REAP Financial Group LLC boosted its stake in shares of Wells Fargo & Company by 232.5% during the 4th quarter. REAP Financial Group LLC now owns 695 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 486 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $70,000. Finally, Carolinas Wealth Consulting LLC boosted its stake in shares of Wells Fargo & Company by 16.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,085 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 293 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 2.3 %

NYSE:WFC opened at $78.35 on Monday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $260.87 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The business’s 50-day simple moving average is $75.87 and its 200-day simple moving average is $67.75.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.