Wells Fargo & Company (NYSE:WFC) Given New $90.00 Price Target at Barclays

Wells Fargo & Company (NYSE:WFC) had its price objective boosted by Barclays from $75.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

WFC has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.63.

Wells Fargo & Company Stock Up 1.0 %

WFC stock opened at $72.00 on Monday. The company has a market cap of $239.72 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The business has a 50 day moving average price of $71.64 and a two-hundred day moving average price of $62.60. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Wells Fargo & Company

A number of institutional investors have recently added to or reduced their stakes in WFC. Canandaigua National Trust Co of Florida acquired a new position in Wells Fargo & Company in the 4th quarter worth about $355,000. Neville Rodie & Shaw Inc. boosted its stake in shares of Wells Fargo & Company by 41.6% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 33,423 shares of the financial services provider’s stock valued at $2,347,000 after purchasing an additional 9,819 shares in the last quarter. Boltwood Capital Management grew its holdings in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Boltwood Capital Management now owns 16,975 shares of the financial services provider’s stock worth $1,192,000 after purchasing an additional 175 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of Wells Fargo & Company by 19.1% in the fourth quarter. CWA Asset Management Group LLC now owns 48,510 shares of the financial services provider’s stock valued at $3,407,000 after buying an additional 7,791 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

About Wells Fargo & Company

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.