Wells Fargo & Company (NYSE:WFC) Receives $89.57 Consensus Target Price from Analysts

Shares of Wells Fargo & Company (NYSE:WFC) have been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $89.5667.

WFC has been the subject of several research reports. TD Cowen lifted their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Citigroup raised their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Bank of America boosted their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th.

Wells Fargo & Company Stock Up 0.0%

Shares of NYSE WFC opened at $86.05 on Friday. The company has a 50 day simple moving average of $83.25 and a 200 day simple moving average of $79.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.50. The firm has a market cap of $270.11 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors have recently added to or reduced their stakes in the stock. Main Street Group LTD raised its holdings in shares of Wells Fargo & Company by 36.9% in the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the period. Hidden Cove Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 2.0% in the third quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 119 shares in the last quarter. Zullo Investment Group Inc. raised its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 122 shares during the period. Embree Financial Group raised its stake in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in Wells Fargo & Company by 1.1% during the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

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.