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

Wells Fargo & Company (NYSE:WFC) has received a consensus rating of "Moderate Buy" from the twenty analysts that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $74.18.

A number of analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th.

Wells Fargo & Company Trading Up 2.4 %

NYSE WFC traded up $1.76 on Friday, reaching $74.28. 10,683,174 shares of the company were exchanged, compared to its average volume of 16,418,531. 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 business's fifty day moving average price is $75.95 and its 200 day moving average price is $69.50. The stock has a market capitalization of $244.25 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Institutional Trading of Wells Fargo & Company

A number of large investors have recently made changes to their positions in the company. CWC Advisors LLC. grew its holdings in Wells Fargo & Company by 2.2% during the 4th quarter. CWC Advisors LLC. now owns 16,796 shares of the financial services provider's stock worth $1,180,000 after acquiring an additional 365 shares in the last quarter. 111 Capital purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $776,000. NorthCrest Asset Manangement LLC grew its stake in shares of Wells Fargo & Company by 1.2% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 176,604 shares of the financial services provider's stock worth $12,405,000 after purchasing an additional 2,129 shares in the last quarter. Northstar Financial Companies Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at $638,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $514,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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.