Analysts Set Wells Fargo & Company (NYSE:WFC) PT at $67.57

Shares of Wells Fargo & Company (NYSE:WFC) have received a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $69.92.

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI raised their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently added to or reduced their stakes in WFC. Larson Financial Group LLC grew its position in Wells Fargo & Company by 191.4% in the 2nd quarter. Larson Financial Group LLC now owns 5,032 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 3,305 shares during the period. Addison Advisors LLC grew its position in shares of Wells Fargo & Company by 17.5% during the 2nd quarter. Addison Advisors LLC now owns 1,767 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 263 shares during the period. SFE Investment Counsel bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $202,000. Lake Street Advisors Group LLC grew its position in shares of Wells Fargo & Company by 1.0% during the 2nd quarter. Lake Street Advisors Group LLC now owns 25,167 shares of the financial services provider’s stock valued at $1,495,000 after acquiring an additional 246 shares during the period. Finally, Intelligence Driven Advisers LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $439,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.2 %

NYSE WFC opened at $70.01 on Friday. The stock’s 50-day simple moving average is $72.13 and its two-hundred day simple moving average is $62.93. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $233.10 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.