Wells Fargo & Company (NYSE:WFC) Given New $88.00 Price Target at Morgan Stanley

Wells Fargo & Company (NYSE:WFC) had its price target hoisted by Morgan Stanley from $84.00 to $88.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

WFC has been the subject of several other research reports. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of 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 raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $72.17.

Wells Fargo & Company Stock Down 0.0 %

WFC stock opened at $75.94 on Thursday. The stock has a market cap of $252.85 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.39 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $72.47 and its two-hundred day simple moving average is $63.24. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.11%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds have recently added to or reduced their stakes in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

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.