Wells Fargo & Company (NYSE:WFC) Price Target Raised to $101.00 at Argus

Wells Fargo & Company (NYSE:WFC) had its target price hoisted by Argus from $94.00 to $101.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research firms also recently commented on WFC. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. CICC Research initiated coverage on shares of Wells Fargo & Company in a report on Wednesday. They set a “market perform” rating and a $96.00 price objective for the company. Barclays lifted their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $94.87.

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Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $88.80 on Thursday. The firm has a market cap of $278.75 billion, a P/E ratio of 14.16, a PEG ratio of 0.82 and a beta of 1.09. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $90.12 and a 200 day moving average of $84.75.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same quarter last year, the company earned $1.43 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Institutional Trading of Wells Fargo & Company

Several hedge funds have recently bought and sold shares of WFC. Private Wealth Group LLC increased its holdings in Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 108 shares in the last quarter. Main Street Group LTD boosted its position in shares of Wells Fargo & Company by 36.9% in the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the period. D Orazio & Associates Inc. increased its stake in shares of Wells Fargo & Company by 3.6% in the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 118 shares in the last quarter. Stonebrook Private Inc. raised its position in shares of Wells Fargo & Company by 2.7% during the 3rd quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 118 shares during the period. Finally, Hidden Cove Wealth Management LLC raised its position in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 119 shares during the period. Institutional investors own 75.90% of the company’s stock.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

About Wells Fargo & Company

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Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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