Piper Sandler Reiterates “$48.00” Price Target for Wells Fargo & Company (NYSE:WFC)

Piper Sandler set a $48.00 price objective on Wells Fargo & Company (NYSE:WFC) in a research report sent to investors on Monday morning, Stock Target Advisor reports.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley decreased their price objective on Wells Fargo & Company from $72.00 to $66.00 and set an overweight rating on the stock in a research report on Monday, March 28th. BMO Capital Markets dropped their price objective on Wells Fargo & Company from $64.00 to $60.00 and set a market perform rating on the stock in a research note on Monday, April 18th. Barclays increased their target price on Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Citigroup raised Wells Fargo & Company from a neutral rating to a buy rating and dropped their target price for the company from $58.00 to $56.00 in a research report on Monday, April 11th. Finally, StockNews.com assumed coverage on Wells Fargo & Company in a report on Thursday, March 31st. They set a hold rating for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $57.62.

NYSE:WFC opened at $38.60 on Monday. The company’s 50 day moving average price is $43.55 and its 200-day moving average price is $49.10. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. The stock has a market cap of $146.31 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 0.93 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The company had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.82 billion. During the same quarter last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 4.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s payout ratio is 20.79%.

In related news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the sale, the executive vice president now directly owns 21,478 shares in the company, valued at approximately $954,482.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.05% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Level Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at approximately $25,000. Financial Management Professionals Inc. raised its position in shares of Wells Fargo & Company by 193.3% during the 1st quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock valued at $25,000 after buying an additional 344 shares during the period. Finally, KRS Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

About Wells Fargo & Company (Get Rating)

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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