Wells Fargo & Company (NYSE:WFC) Receives $97.03 Average Price Target from Analysts

Shares of Wells Fargo & Company (NYSE:WFC) have been given an average rating of “Moderate Buy” by the twenty-three ratings firms that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $97.0263.

WFC has been the topic of several research reports. Freedom Capital downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. TD Cowen decreased their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Barclays raised their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th.

Check Out Our Latest Report on WFC

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $80.44 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $248.21 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.88 and a beta of 1.08. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The stock has a 50 day moving average of $89.46 and a 200-day moving average of $86.66.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter in the prior year, the business earned $1.43 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 115,000 shares of company stock valued at $10,050,000. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $27,000. Finally, Marquette Asset Management LLC grew its position in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

About Wells Fargo & Company

(Get Free Report)

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.

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

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