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

Wells Fargo & Company (NYSE:WFC) has received an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $75.34.

A number of equities research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Monday. Raymond James lowered 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 note on Monday. JPMorgan Chase & Co. reduced their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays reduced their target price on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $3,365,658,000. Capital Research Global Investors grew its holdings in Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after acquiring an additional 14,210,193 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider’s stock valued at $243,589,000 after acquiring an additional 3,350,605 shares during the period. Northern Trust Corp raised its stake in shares of Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock valued at $2,411,992,000 after acquiring an additional 3,307,855 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $198,801,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $63.17 on Tuesday. The firm has a market cap of $206.26 billion, a PE ratio of 11.74, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s fifty day moving average price is $72.49 and its two-hundred day moving average price is $71.02.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.