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

Wells Fargo & Company (NYSE:WFC) has been assigned an average recommendation of “Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $58.78.

Several analysts have weighed in on WFC shares. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, March 31st. Atlantic Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a research note on Tuesday, February 1st. Zacks Investment Research upgraded shares of Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, February 16th. Argus lifted their price objective on shares of Wells Fargo & Company from $55.00 to $65.00 in a research note on Tuesday, January 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $57.00 to $58.50 in a research report on Thursday, February 3rd.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the sale, the executive vice president now directly owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trustcore Financial Services LLC grew its holdings in Wells Fargo & Company by 4.4% during the 4th quarter. Trustcore Financial Services LLC now owns 4,375 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 186 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in Wells Fargo & Company by 2.3% during the 4th quarter. Cornerstone Advisory LLC now owns 8,397 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 187 shares during the last quarter. Biltmore Capital Advisors LLC grew its holdings in Wells Fargo & Company by 4.0% during the 4th quarter. Biltmore Capital Advisors LLC now owns 4,921 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 189 shares during the last quarter. Johanson Financial Advisors Inc. grew its holdings in Wells Fargo & Company by 3.5% during the 4th quarter. Johanson Financial Advisors Inc. now owns 5,683 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 191 shares during the last quarter. Finally, First Bancorp Inc ME boosted its stake in shares of Wells Fargo & Company by 3.0% in the 4th quarter. First Bancorp Inc ME now owns 6,780 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 199 shares during the last quarter. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WFC stock opened at $44.76 on Friday. The company has a market capitalization of $170.16 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 0.80. The company has a 50-day simple moving average of $48.62 and a 200 day simple moving average of $50.93. Wells Fargo & Company has a 52 week low of $41.47 and a 52 week high of $60.30.

Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The business had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.82 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 4.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is 20.79%.

About Wells Fargo & Company (Get Rating)

Wells 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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