Wells Fargo & Company (NYSE:WFC) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.56.
Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, December 8th. HSBC assumed coverage on shares of Wells Fargo & Company in a report on Thursday, September 7th. They issued a "hold" rating and a $45.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $44.00 target price on shares of Wells Fargo & Company in a report on Friday, September 22nd. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company a "market perform" rating in a research note on Monday, October 16th. Finally, Morgan Stanley upped their price target on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, December 4th.
Get Our Latest Stock Analysis on Wells Fargo & Company
Insider Buying and Selling at Wells Fargo & Company
In related news, Director Richard K. Davis purchased 3,500 shares of the business's stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $144,270.00. Following the completion of the acquisition, the director now owns 4,244 shares in the company, valued at approximately $174,937.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.07% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Carson Advisory Inc. grew its holdings in shares of Wells Fargo & Company by 1.6% in the second quarter. Carson Advisory Inc. now owns 13,371 shares of the financial services provider's stock worth $571,000 after purchasing an additional 217 shares during the last quarter. Main Street Research LLC lifted its stake in Wells Fargo & Company by 1.2% in the second quarter. Main Street Research LLC now owns 19,615 shares of the financial services provider's stock worth $837,000 after acquiring an additional 226 shares during the period. First Bank & Trust lifted its stake in Wells Fargo & Company by 1.0% in the second quarter. First Bank & Trust now owns 23,900 shares of the financial services provider's stock worth $1,020,000 after acquiring an additional 233 shares during the period. Founders Financial Securities LLC lifted its stake in Wells Fargo & Company by 0.8% in the second quarter. Founders Financial Securities LLC now owns 31,571 shares of the financial services provider's stock worth $1,347,000 after acquiring an additional 240 shares during the period. Finally, Cape Cod Five Cents Savings Bank lifted its stake in Wells Fargo & Company by 4.6% in the fourth quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider's stock worth $232,000 after acquiring an additional 245 shares during the period. 72.47% of the stock is currently owned by institutional investors.
Wells Fargo & Company Price Performance
Shares of NYSE:WFC opened at $49.64 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.87 and a quick ratio of 0.87. Wells Fargo & Company has a 1-year low of $35.25 and a 1-year high of $50.77. The company has a market capitalization of $180.27 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.96 and a beta of 1.18. The firm's 50 day simple moving average is $43.66 and its two-hundred day simple moving average is $42.91.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.24 by $0.15. Wells Fargo & Company had a net margin of 17.06% and a return on equity of 11.18%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.09 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts expect that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company's dividend payout ratio (DPR) is 30.24%.
About Wells Fargo & Company
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Get Free ReportWells 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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