Wells Fargo & Company (NYSE:WFC) Receives $59.52 Average Price Target from Analysts

Wells Fargo & Company (NYSE:WFC) has earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $59.31.

A number of analysts have recently commented on WFC shares. Evercore ISI reissued an “outperform” rating and issued a $67.00 price objective (down previously from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $59.23 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm’s 50 day moving average price is $59.33 and its two-hundred day moving average price is $56.17. The firm has a market cap of $206.49 billion, a P/E ratio of 12.16, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.75%.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently modified their holdings of WFC. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $29,000. Wetzel Investment Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

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.