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

Shares of Wells Fargo & Company (NYSE:WFC) have been given an average rating of “Moderate Buy” by the twenty-five brokerages that are currently covering the company, MarketBeat Ratings reports. Nine equities research 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 target among brokerages that have updated their coverage on the stock in the last year is $99.86.

A number of analysts have recently commented on the company. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. UBS Group reduced their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. HSBC started coverage on Wells Fargo & Company in a research note on Monday. They set a “buy” rating and a $108.00 price objective for the company. Truist Financial increased their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, Robert W. Baird raised their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th.

Wells Fargo & Company Trading Down 2.6%

Shares of NYSE WFC opened at $80.82 on Tuesday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The stock has a market cap of $244.40 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.92. The firm has a 50-day moving average of $86.76 and a 200 day moving average of $82.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 7.23 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.07%.

Institutional Trading of Wells Fargo & Company

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Core Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $29,000. Nemes Rush Group LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Security National Bank of Sioux City Iowa IA bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $28,000. Finally, Phillip James Consulting Co. purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $28,000. 75.90% of the stock is currently owned by institutional investors.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a diversified financial services company that provides banking, lending, investment, and wealth management services to individuals, businesses, institutions, and government entities. Its offerings include checking and savings accounts, credit cards, personal and commercial loans, mortgages, payment services, and other deposit and credit products.

The company also provides investment banking, capital markets, brokerage, advisory, asset management, and retirement services through its corporate and investment banking and wealth and investment management businesses.