Wells Fargo & Company - WFC Stock Forecast, Price & News

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. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients. Its products and services comprise corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.

Analysts Set New Price Targets

A number of analysts recently weighed in on WFC shares. Citigroup cut their price target on shares of Wells Fargo & Company from $56.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, July 12th. Barclays lowered their price objective on shares of Wells Fargo & Company from $64.00 to $58.00 and set an "overweight" rating on the stock in a report on Monday, July 18th. Royal Bank of Canada decreased their target price on shares of Wells Fargo & Company from $55.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday, July 1st. Credit Suisse Group reduced their price objective on shares of Wells Fargo & Company from $57.00 to $55.00 and set an "outperform" rating for the company in a research report on Monday, July 18th. Finally, Piper Sandler set a $48.00 target price on Wells Fargo & Company in a report on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $55.31.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $45.25 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. The business's 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $46.71. The stock has a market capitalization of $171.64 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30.

Wells Fargo & Company (NYSE:WFC - Get Rating) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.14). The company had revenue of $17.03 billion for the quarter, compared to analysts' expectations of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm's quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. Analysts forecast that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 5th will be paid a $0.30 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.65%. Wells Fargo & Company's dividend payout ratio is 28.78%.