Wells Fargo & Company (NYSE:WFC) Stock Has Average Price Target of $97.50 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: 17 of 26 analysts rate Wells Fargo a buy, while nine recommend holding; the average 12-month price target is $97.50.
• Wells Fargo reported quarterly EPS of $1.87, slightly above the $1.85 consensus, but revenue of $21.87 billion fell short of expectations of $22.30 billion. Revenue grew 2% year over year.
• The company announced a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 2.3% yield.

Shares of Wells Fargo & Company (NYSE:WFC - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-six analysts that are presently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $97.50.

WFC has been the topic of a number of recent analyst reports. TD Cowen began coverage on shares of Wells Fargo & Company in a report on Thursday, October 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Daiwa Securities Group lowered their target price on Wells Fargo & Company from $100.00 to $93.00 and set an "outperform" rating for the company in a research note on Thursday, October 8th. HSBC initiated coverage on Wells Fargo & Company in a report on Monday, September 28th. They set a "buy" rating and a $108.00 price objective on the stock. Citigroup cut their target price on Wells Fargo & Company from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $91.50 to $92.00 and gave the company a "neutral" rating in a research note on Friday, October 30th.

Wells Fargo & Company Stock Up 0.4%

Shares of NYSE:WFC opened at $85.80 on Wednesday. The company has a market capitalization of $257.56 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The company has a 50 day moving average of $84.37 and a two-hundred day moving average of $83.59. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The business had revenue of $21.87 billion for the quarter, compared to analysts' expectations of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company's dividend payout ratio is 28.21%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bryn Mawr Trust Advisors LLC bought a new stake in Wells Fargo & Company in the second quarter valued at $658,000. WINTON GROUP Ltd bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $16,259,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $1,116,000. Citizens Financial Group Inc. RI bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $25,922,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Wells Fargo & Company in the second quarter worth about $1,190,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company offering banking, lending, investment, and wealth management services. Its products include checking and savings accounts, credit cards, mortgages, auto loans, commercial financing, investment services, and financial advice. The company serves consumers, businesses, and institutions, primarily in the United States. Its operations include consumer and small business banking, commercial banking, and corporate and investment banking, as well as wealth and investment management.

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