Wells Fargo & Company (NYSE:WFC) Price Target Lowered to $78.00 at Raymond James

Wells Fargo & Company (NYSE:WFC) had its price objective decreased by Raymond James from $88.00 to $78.00 in a research report report published on Monday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the financial services provider’s stock.

WFC has been the topic of a number of other research reports. Piper Sandler dropped their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Truist Financial cut their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, April 3rd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.88.

Wells Fargo & Company Stock Up 1.1 %

WFC stock opened at $63.17 on Monday. The company has a market cap of $206.26 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a fifty day moving average price of $72.49 and a 200 day moving average price of $71.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion during 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 was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.53%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Institutional Trading of Wells Fargo & Company

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its stake in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after buying an additional 30,510 shares during the last quarter. Valmark Advisers Inc. boosted its position in shares of Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 431 shares during the last quarter. NatWest Group plc grew its holdings in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after purchasing an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $1,656,000. Finally, Modera Wealth Management LLC raised its stake in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 2,548 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

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.