Wells Fargo & Company (NYSE:WFC) Receives $97.53 Average Price Target from Brokerages

Wells Fargo & Company (NYSE:WFC) has earned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $98.2368.

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, Truist Financial dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th.

Institutional Trading of Wells Fargo & Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at $27,000. Finally, Joseph Group Capital Management purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Institutional investors own 75.90% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

Wells Fargo & Company Stock Performance

NYSE WFC opened at $82.31 on Friday. The company has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock has a fifty day simple moving average of $79.75 and a 200 day simple moving average of $84.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 6.86 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.

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.