Analysts Set Wells Fargo & Company (NYSE:WFC) PT at $60.29

by · The Markets Daily

Wells Fargo & Company (NYSE:WFC) has received a consensus rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.24.

WFC has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd.

Check Out Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Stock Down 1.9 %

Shares of NYSE WFC opened at $55.42 on Friday. The company has a 50 day simple moving average of $55.60 and a 200 day simple moving average of $57.79. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm has a market cap of $193.21 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.89%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at about $26,000. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

(Get Free Report

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.

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