Wells Fargo & Company (NYSE:WFC) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $51.43.
A number of research analysts recently commented on WFC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Raymond James boosted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research note on Thursday, January 18th. Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th.
Check Out Our Latest Stock Report on WFC
Wells Fargo & Company Stock Up 0.1 %
WFC opened at $57.07 on Monday. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $57.68. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $204.16 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.18 and a beta of 1.19. The stock has a fifty day moving average of $50.73 and a 200-day moving average of $45.59.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. On average, equities analysts expect that Wells Fargo & Company will post 4.72 EPS for the current year.
Wells Fargo & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.
Hedge Funds Weigh In On Wells Fargo & Company
A number of institutional investors have recently modified their holdings of WFC. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $25,000. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Studio Investment Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. 72.47% of the stock is owned by institutional investors and hedge funds.
About Wells Fargo & Company
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.
Further Reading
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Source: defenseworld.net
