Wells Fargo & Company (NYSE:WFC) Receives $67.57 Consensus PT from Analysts

Shares of Wells Fargo & Company (NYSE:WFC) have earned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $69.92.

Several research analysts have weighed in on WFC shares. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial began coverage on shares of Wells Fargo & Company in a report on Tuesday. They set a “buy” rating and a $82.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds have recently modified their holdings of the business. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.6 %

Wells Fargo & Company stock opened at $71.60 on Friday. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The stock has a fifty day moving average of $71.77 and a 200 day moving average of $62.69. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $238.39 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders 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 yield of 2.23%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

About Wells Fargo & Company

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.