Wells Fargo & Company (NYSE:WFC) Price Target Raised to $92.00 at Barclays

Wells Fargo & Company (NYSE:WFC) had its price objective upped by Barclays from $90.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

WFC has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, 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 note on Wednesday, October 30th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $75.94 on Thursday. The stock has a market capitalization of $252.85 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $72.47 and its two-hundred day moving average price is $63.24.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Hedge Funds Weigh In On Wells Fargo & Company

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

About Wells Fargo & Company

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.