Wells Fargo & Company (NYSE:WFC) Receives $67.49 Average Price Target from Analysts

Wells Fargo & Company (NYSE:WFC) has earned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the company, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $67.49.

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $70.47 on Wednesday. The firm has a market cap of $234.63 billion, a PE ratio of 14.61, a P/E/G ratio of 1.49 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $68.69 and a 200 day moving average price of $61.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently modified their holdings of the company. Income Research & Management purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.