Shares of Wells Fargo & Company (NYSE:WFC) have been given an average rating of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $54.39.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $46.50 to $49.50 in a research report on Wednesday, November 2nd. Barclays increased their price objective on shares of Wells Fargo & Company from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. StockNews.com began coverage on shares of Wells Fargo & Company in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Odeon Capital Group raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $51.79 price target for the company in a research report on Tuesday. Finally, Piper Sandler raised their price target on shares of Wells Fargo & Company from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, October 17th.
Wells Fargo & Company Stock Performance
Wells Fargo & Company stock opened at $42.36 on Wednesday. The firm has a 50 day simple moving average of $44.21 and a 200-day simple moving average of $43.41. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $161.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The firm had revenue of $19.51 billion during the quarter, compared to analysts’ expectations of $18.78 billion. Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, analysts expect that Wells Fargo & Company will post 3.11 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Friday, November 4th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 3rd. This represents a $1.20 annualized dividend and a yield of 2.83%. Wells Fargo & Company’s dividend payout ratio is currently 31.17%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of WFC. Capital World Investors increased its stake in Wells Fargo & Company by 73.9% in the first quarter. Capital World Investors now owns 53,857,384 shares of the financial services provider’s stock valued at $2,609,929,000 after purchasing an additional 22,890,585 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Wells Fargo & Company by 20.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 105,621,983 shares of the financial services provider’s stock valued at $4,248,626,000 after acquiring an additional 18,252,701 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wells Fargo & Company by 1,478.6% in the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at about $345,861,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Wells Fargo & Company by 1.2% in the third quarter. Vanguard Group Inc. now owns 326,822,162 shares of the financial services provider’s stock valued at $13,144,788,000 after acquiring an additional 3,920,830 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Company Profile
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.
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