Wells Fargo & Company (NYSE:WFC) Receives Average Rating of “Moderate Buy” from Analysts

Wells Fargo & Company (NYSE:WFC) has been given an average recommendation of “Moderate Buy” by the twenty-six brokerages that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $98.3421.

A number of brokerages recently weighed in on WFC. Keefe, Bruyette & Woods reduced their target price on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Barclays cut their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Raymond James Financial initiated coverage on shares of Wells Fargo & Company in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th.

Hedge Funds Weigh In On Wells Fargo & Company

A number of hedge funds have recently made changes to their positions in the business. Diversified Trust Co. boosted its holdings in Wells Fargo & Company by 59.7% during the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock worth $3,289,000 after buying an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wells Fargo & Company by 19.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock worth $49,610,000 after acquiring an additional 84,902 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock worth $32,673,000 after purchasing an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock worth $38,446,000 after buying an additional 17,302 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its stake in shares of Wells Fargo & Company by 12.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 283,582 shares of the financial services provider’s stock worth $23,770,000 after acquiring an additional 32,094 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $87.54 on Thursday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The stock has a market cap of $267.89 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The company has a 50-day moving average price of $80.77 and a two-hundred day moving average price of $83.91.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter last year, the company earned $1.39 EPS. Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Analysts expect Wells Fargo and other major U.S. banks to post earnings beats, with favorable operating trends such as strong trading activity, loan demand, and capital markets activity supporting the sector ahead of results. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: Wells Fargo stock has been gaining attention from analysts and hedge funds, with Wall Street maintaining a consensus Buy view and investors expecting continued upside if the bank shows renewed growth in Tuesday’s report. Looking to Buy Wells Fargo & Co (WFC) Stock? Listen to JPMorgan First
• Positive Sentiment: Pre-earnings coverage suggests one key metric in WFC’s report could show whether the bank is finally returning to growth, which is keeping traders focused on the stock into the earnings release. Wells Fargo Reports Q2 Earnings Tuesday Morning. Here’s the Number That Matters Most.
• Neutral Sentiment: Wells Fargo flagged tech concentration risk as earnings season begins, a reminder that concentrated exposure in markets and the broader macro backdrop could affect near-term sentiment. Wells Fargo flags tech concentration risk as earnings season kicks off
• Neutral Sentiment: Multiple previews note that Wells Fargo, JPMorgan, Goldman Sachs, and Bank of America report on the same day, setting up a high-profile earnings session that could drive sector-wide volatility rather than bank-specific movement alone. Wall Street Prepares For Four Top Banks To Report Earnings On The Same Day

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.