Brokerages Set Wells Fargo & Company (NYSE:WFC) PT at $97.53

Shares of Wells Fargo & Company (NYSE:WFC) have received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $97.5250.

Several equities research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. UBS Group reissued a “buy” rating and set a $113.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Truist Financial reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th.

Wells Fargo & Company Price Performance

Shares of WFC opened at $76.52 on Wednesday. The company has a market capitalization of $234.15 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a 50 day moving average of $78.92 and a 200 day moving average of $85.24. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares in the company, valued at $7,270,933.80. This represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Miller Capital Partners Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Navalign LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the third quarter worth approximately $27,000. Finally, Joseph Group Capital Management purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.