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

Shares of Wells Fargo & Company (NYSE:WFC) have been given a consensus recommendation of “Moderate Buy” by the twenty-six ratings firms that are covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $98.2368.

Several brokerages have recently commented on WFC. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 15th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their price objective on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Truist Financial lowered their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WFC. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $27,000. Finally, Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1%

NYSE:WFC opened at $82.31 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The business has a fifty day moving average price of $79.70 and a 200-day moving average price of $84.59.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same period in the prior year, the business posted $1.39 EPS. Wells Fargo & Company’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 6.86 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

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.