Wells Fargo & Company (NYSE:WFC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Wells Fargo & Company (NYSE:WFC) have received an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $75.34.

WFC has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Finally, Barclays cut their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently added to or reduced their stakes in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $63.17 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm’s fifty day simple moving average is $72.49 and its 200 day simple moving average is $71.02. The stock has a market cap of $206.26 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. Wells Fargo & Company’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts predict 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 was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

About Wells Fargo & Company

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.