Wells Fargo & Company (NYSE:WFC) Price Target Raised to $99.50

Wells Fargo & Company (NYSE:WFC) had its price objective upped by JPMorgan Chase & Co. from $99.00 to $99.50 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

WFC has been the topic of several other reports. Morgan Stanley boosted their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Argus lifted their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. UBS Group reissued a “buy” rating and set a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Wolfe Research restated an “outperform” rating and issued a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Wells Fargo & Company Stock Down 3.1%

NYSE WFC opened at $89.08 on Monday. The stock has a 50 day moving average price of $91.94 and a 200-day moving average price of $85.85. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The company has a market capitalization of $279.63 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.01 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same quarter last year, the business earned $1.43 earnings per share. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s payout ratio is 28.71%.

Institutional Trading of Wells Fargo & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Wells Fargo & Company during the 2nd quarter valued at $3,990,551,000. Massachusetts Financial Services Co. MA increased its stake in shares of Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after buying an additional 5,894,747 shares during the period. Capital Research Global Investors increased its stake in shares of Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after buying an additional 5,584,930 shares during the period. Mawer Investment Management Ltd. raised its holdings in shares of Wells Fargo & Company by 177.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after acquiring an additional 3,120,399 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Wells Fargo & Company in the third quarter worth about $215,638,000. Institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.