Analysts Set Wells Fargo & Company (NYSE:WFC) Price Target at $89.57

Wells Fargo & Company (NYSE:WFC) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $89.5667.

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors have recently added to or reduced their stakes in WFC. Accretive Wealth Partners LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares during the period. Secured Retirement Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $408,000. Three Bridge Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $364,000. Finally, Allianz SE raised its stake in Wells Fargo & Company by 22.6% during the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after acquiring an additional 39,150 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $87.31 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.89. The company has a market cap of $279.70 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.18 and a beta of 1.25. The firm’s fifty day moving average price is $82.89 and its two-hundred day moving average price is $78.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wells Fargo & Company Company Profile

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.