Wells Fargo & Company (NYSE:WFC) Price Target Raised to $83.00 at Compass Point

Wells Fargo & Company (NYSE:WFC) had its price objective boosted by Compass Point from $60.00 to $83.00 in a report issued on Tuesday morning,Benzinga reports. Compass Point currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on WFC. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and cut their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.49.

Wells Fargo & Company Stock Down 0.8 %

WFC opened at $72.05 on Tuesday. The company has a market cap of $239.89 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.55 and a beta of 1.16. The business’s 50-day moving average price is $67.71 and its 200-day moving average price is $60.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $45.57 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Wells Fargo & Company

A number of hedge funds have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $4,452,000. Old North State Trust LLC raised its holdings in Wells Fargo & Company by 21.2% in the 3rd quarter. Old North State Trust LLC now owns 9,614 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 1,680 shares during the last quarter. Synovus Financial Corp raised its holdings in Wells Fargo & Company by 32.2% in the 3rd quarter. Synovus Financial Corp now owns 99,049 shares of the financial services provider’s stock worth $5,595,000 after acquiring an additional 24,126 shares during the last quarter. Tidal Investments LLC raised its holdings in Wells Fargo & Company by 4.5% in the 3rd quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider’s stock worth $7,842,000 after acquiring an additional 5,946 shares during the last quarter. Finally, World Investment Advisors LLC raised its holdings in Wells Fargo & Company by 1,263.8% in the 3rd quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider’s stock worth $4,261,000 after acquiring an additional 69,901 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Company Profile

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.