Brokerages Set Wells Fargo & Company (NYSE:WFC) Price Target at $56.68

Wells Fargo & Company (NYSE:WFC) has been given an average rating of “Hold” by the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $58.37.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Raymond James upped their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Evercore ISI upped their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th.

Get Our Latest Stock Analysis on Wells Fargo & Company

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $56.65 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a fifty day moving average of $54.77 and a two-hundred day moving average of $48.11. The stock has a market capitalization of $200.56 billion, a PE ratio of 11.75, a P/E/G ratio of 1.17 and a beta of 1.19. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 4.75 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lazari Capital Management Inc. lifted its position in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN lifted its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 214 shares in the last quarter. CX Institutional lifted its position in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Wells Fargo & Company by 3.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 219 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 4.1% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

(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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Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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