Analysts Set Wells Fargo & Company (NYSE:WFC) PT at $67.49

Wells Fargo & Company (NYSE:WFC) has earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $67.49.

Several research firms have recently commented on WFC. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $70.44 on Wednesday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $234.53 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The firm’s fifty day moving average price is $68.96 and its 200 day moving average price is $61.21.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Wells Fargo & Company

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

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.