Analysts Set Wells Fargo & Company (NYSE:WFC) Target Price at $80.39

Wells Fargo & Company (NYSE:WFC) has been given an average rating of "Moderate Buy" by the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $80.39.

Several analysts recently weighed in on the company. Truist Financial boosted their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. decreased their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th.

Wells Fargo & Company Stock Up 0.4%

Shares of NYSE:WFC traded up $0.38 during trading on Thursday, hitting $84.25. The company's stock had a trading volume of 14,071,803 shares, compared to its average volume of 19,653,194. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $84.83. The stock's 50-day moving average price is $77.86 and its two-hundred day moving average price is $74.59. The company has a market capitalization of $274.15 billion, a PE ratio of 14.43, a PEG ratio of 1.30 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. Wells Fargo & Company's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.90%. Wells Fargo & Company's dividend payout ratio (DPR) is 27.40%.

Wells Fargo & Company announced that its board has authorized a share repurchase program on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at $27,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after buying an additional 326 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.