Wells Fargo & Company (NYSE:WFC) Receives $73.39 Consensus PT from Analysts

Wells Fargo & Company (NYSE:WFC) has been given a consensus recommendation of "Moderate Buy" by the twenty ratings firms that are covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $73.39.

A number of research firms have weighed in on WFC. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. 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 note on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.52 during midday trading on Thursday, hitting $78.89. The company's stock had a trading volume of 11,274,402 shares, compared to its average volume of 15,037,433. The stock has a market cap of $262.67 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock's 50-day moving average price is $73.45 and its 200 day moving average price is $64.48. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $79.24.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Institutional Trading of Wells Fargo & Company

A number of institutional investors and hedge funds have recently modified their holdings of WFC. National Pension Service increased its holdings in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB lifted its position in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. Institutional investors own 75.90% of the company's stock.

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.