Wells Fargo & Company (NYSE:WFC) Given New $99.50 Price Target at JPMorgan Chase & Co.

Wells Fargo & Company (NYSE:WFC) had its price target lifted by JPMorgan Chase & Co. from $99.00 to $99.50 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

WFC has been the topic of several other reports. CICC Research started coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target on the stock. Bank of America boosted their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Wolfe Research reiterated an “outperform” rating and issued a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.29.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $94.73 on Monday. The firm has a market capitalization of $297.37 billion, a PE ratio of 15.11, a PEG ratio of 1.03 and a beta of 1.09. The firm’s fifty day simple moving average is $91.83 and its 200 day simple moving average is $85.77. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently bought and sold shares of the company. Private Wealth Group LLC grew its holdings in shares of Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 108 shares during the last quarter. Nixon Peabody Trust Co. increased its holdings in Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank lifted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 116 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 117 shares during the period. Finally, Main Street Group LTD boosted its holdings in 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 acquiring an additional 118 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

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.