Brokerages Set Wells Fargo & Company (NYSE:WFC) Price Target at $74.39

Wells Fargo & Company (NYSE:WFC) has been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $74.39.

A number of research firms recently issued reports on WFC. The Goldman Sachs Group raised their price target 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. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays increased 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. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd.

Hedge Funds Weigh In On Wells Fargo & Company

Several hedge funds have recently bought and sold shares of WFC. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. BNP Paribas purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $29,000. Finally, Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.0 %

WFC opened at $72.51 on Friday. The business’s 50-day simple moving average is $75.95 and its 200-day simple moving average is $69.50. The company has a market cap of $238.43 billion, a P/E ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

About Wells Fargo & Company

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.