Wells Fargo & Company (NYSE:WFC) Receives $98.61 Consensus Target Price from Analysts

Shares of Wells Fargo & Company (NYSE:WFC) have been given an average rating of “Moderate Buy” by the twenty-six ratings firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $98.6053.

WFC has been the subject of a number of research analyst reports. Bank of America raised their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Robert W. Baird increased their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th.

Institutional Trading of Wells Fargo & Company

A number of large investors have recently modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.0%

NYSE:WFC opened at $87.25 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $84.90 and its two-hundred day moving average is $83.03. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The stock has a market capitalization of $263.86 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.

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.