Wells Fargo & Company (NYSE:WFC) has been assigned a consensus recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $55.03.
WFC has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Wells Fargo & Company from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, October 17th. The Goldman Sachs Group raised Wells Fargo & Company from a "neutral" rating to a "buy" rating and increased their price objective for the company from $46.00 to $48.00 in a research note on Monday, October 3rd. BMO Capital Markets increased their price objective on Wells Fargo & Company from $61.00 to $63.00 and gave the company a "market perform" rating in a research note on Monday, October 17th. Morgan Stanley decreased their price objective on Wells Fargo & Company from $62.00 to $59.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 5th. Finally, JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $46.50 to $49.50 in a research note on Wednesday, November 2nd.
Hedge Funds Weigh In On Wells Fargo & Company
A number of large investors have recently modified their holdings of WFC. Retirement Group LLC raised its holdings in shares of Wells Fargo & Company by 6,250.0% during the 1st quarter. Retirement Group LLC now owns 635 shares of the financial services provider's stock valued at $31,000 after buying an additional 625 shares during the period. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. increased its holdings in Wells Fargo & Company by 66.6% during the 3rd quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider's stock worth $28,000 after purchasing an additional 275 shares during the last quarter. Destiny Wealth Partners LLC increased its holdings in Wells Fargo & Company by 716.0% during the 2nd quarter. Destiny Wealth Partners LLC now owns 767 shares of the financial services provider's stock worth $30,000 after purchasing an additional 673 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in Wells Fargo & Company by 100.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider's stock worth $31,000 after purchasing an additional 400 shares during the last quarter. 72.23% of the stock is currently owned by hedge funds and other institutional investors.
Wells Fargo & Company Stock Up 0.7 %
Wells Fargo & Company stock opened at $46.84 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $178.48 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $36.54 and a fifty-two week high of $60.30. The stock's fifty day moving average is $44.08 and its two-hundred day moving average is $43.18.
Wells Fargo & Company (NYSE:WFC - Get Rating) last posted its earnings results on Friday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.24). The firm had revenue of $19.51 billion during the quarter, compared to analyst estimates of $18.78 billion. Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. Analysts predict that Wells Fargo & Company will post 3.81 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.56%. Wells Fargo & Company's dividend payout ratio (DPR) is 31.17%.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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