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

Wells Fargo & Company (NYSE:WFC) has received a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $73.39.

A number of brokerages recently issued reports on WFC. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Phillip Securities raised shares of 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, Keefe, Bruyette & Woods upped 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.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $80.07 on Thursday. The firm has a market capitalization of $266.58 billion, a PE ratio of 14.88, a P/E/G ratio of 1.19 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 company has a 50-day moving average price of $73.66 and a two-hundred day moving average price of $65.06. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $80.35.

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 analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Hedge Funds Weigh In On Wells Fargo & Company

Hedge funds have recently modified their holdings of the company. Spinnaker Trust lifted its position in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC raised its stake in Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 134 shares during the last quarter. Crown Wealth Group LLC boosted its stake in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management grew its holdings in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after buying an additional 148 shares in the last quarter. Finally, New Republic Capital LLC raised its position in shares of Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the last quarter. Hedge funds and other 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.