Wells Fargo & Company (NYSE:WFC) Receives $55.03 Consensus PT from Analysts

Wells Fargo & Company (NYSE:WFC) has earned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $55.03.

Several brokerages have issued reports on WFC. BMO Capital Markets increased their price target on Wells Fargo & Company from $61.00 to $63.00 and gave the stock a “market perform” rating in a report on Monday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, September 12th. The Goldman Sachs Group upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 3rd. StockNews.com started coverage on Wells Fargo & Company in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $46.50 to $49.50 in a report on Wednesday, November 2nd.

Wells Fargo & Company Trading Up 0.5 %

NYSE:WFC opened at $47.33 on Tuesday. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The business’s 50-day moving average price is $44.24 and its two-hundred day moving average price is $43.23. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $180.35 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.21 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its earnings results on Friday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.24). Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The company had revenue of $19.51 billion during the quarter, compared to analyst estimates of $18.78 billion. During the same period in the previous year, the company posted $1.17 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Company will post 3.81 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.20 annualized dividend and a yield of 2.54%. Wells Fargo & Company’s dividend payout ratio is presently 31.17%.

Hedge Funds Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFC. Vanguard Group Inc. increased its stake in shares of Wells Fargo & Company by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 326,822,162 shares of the financial services provider’s stock valued at $13,144,788,000 after purchasing an additional 3,920,830 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Wells Fargo & Company by 20.9% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 105,621,983 shares of the financial services provider’s stock worth $4,248,626,000 after acquiring an additional 18,252,701 shares during the last quarter. Capital World Investors grew its position in Wells Fargo & Company by 73.9% during the 1st quarter. Capital World Investors now owns 53,857,384 shares of the financial services provider’s stock worth $2,609,929,000 after acquiring an additional 22,890,585 shares during the last quarter. Sanders Capital LLC grew its position in Wells Fargo & Company by 1.7% during the 3rd quarter. Sanders Capital LLC now owns 25,041,576 shares of the financial services provider’s stock worth $1,007,172,000 after acquiring an additional 416,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Wells Fargo & Company by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the last quarter. 72.23% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

(Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

See Also

Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.