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 recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $75.34.

Several research analysts have issued reports on the company. Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Truist Financial decreased their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Raymond James reduced their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, April 7th.

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors have recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $28,000. BNP Paribas acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.1 %

WFC opened at $64.03 on Tuesday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average of $70.92 and a 200 day moving average of $71.32. The firm has a market cap of $209.07 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Wells Fargo & Company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.50%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.73%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.