Wells Fargo & Company (NYSE:WFC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wells Fargo & Company (NYSE:WFC) has been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $74.97.

Several brokerages have issued reports on WFC. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Piper Sandler raised their price target 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.

Wells Fargo & Company Trading Down 1.6 %

Shares of WFC opened at $72.33 on Friday. The business’s 50-day moving average price is $75.97 and its 200 day moving average price is $69.80. 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 stock has a market capitalization of $236.17 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Analysts expect 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the 4th quarter worth $28,000. Rakuten Securities Inc. lifted its position in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.