Analysts Set Wells Fargo & Company (NYSE:WFC) PT at $98.61

Shares of Wells Fargo & Company (NYSE:WFC) have been assigned an average recommendation of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $98.6053.

A number of brokerages have recently commented on WFC. JPMorgan Chase & Co. raised their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Bank of America raised their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Truist Financial increased their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Tokenized deposits could create new fee and payments revenue. Wells Fargo plans to launch blockchain-based tokenized deposits for corporate and commercial clients this fall. The service is expected to support faster, programmable transfers and settlement, while helping the bank respond to competition from stablecoins and other digital-payment providers. Wells Fargo is also expanding beyond traditional crypto custody into broader blockchain-based financial services. Wells Fargo Plans to Launch Tokenized Deposits This Fall
• Positive Sentiment: Some valuation analysis indicates additional upside. A review using an Excess Returns model estimates that WFC may be approximately 25% undervalued. The planned tokenized-deposit offering could support expectations for future fee income, though investors may question how much of the opportunity is already reflected after the stock’s 112.5% three-year gain. Wells Fargo Stock May Be 25% Undervalued on Tokenized Deposits Launch
• Neutral Sentiment: AI has both efficiency benefits and execution risks. CEO Charlie Scharf said artificial intelligence could eliminate tens of thousands of bank jobs, potentially reducing costs and improving productivity. However, the timing of those savings is uncertain, and large-scale workforce reductions could create operational, employee-relations, or reputational risks. Scharf also characterized the American consumer as resilient, which supports the bank’s broader revenue outlook. Wells Fargo CEO Discusses AI and Jobs

Institutional Trading of Wells Fargo & Company

A number of hedge funds have recently made changes to their positions in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. Finally, Phillip James Consulting Co. purchased a new position in Wells Fargo & Company in the first quarter valued at about $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.9%

Shares of NYSE:WFC opened at $89.16 on Monday. The stock has a 50-day simple moving average of $84.48 and a 200-day simple moving average of $83.04. The stock has a market capitalization of $269.62 billion, a P/E ratio of 12.96, a PEG ratio of 0.96 and a beta of 0.92. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the previous year, the company posted $1.60 earnings per share. Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is 26.16%.

About Wells Fargo & Company

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.