Wells Fargo & Company (NYSE:WFC) Price Target Raised to $86.00 at Keefe, Bruyette & Woods

Wells Fargo & Company (NYSE:WFC) had its target price hoisted by Keefe, Bruyette & Woods from $81.00 to $86.00 in a report released on Thursday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also issued reports on WFC. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Stock Down 0.0 %

NYSE:WFC opened at $75.94 on Thursday. The stock’s fifty day moving average is $72.47 and its two-hundred day moving average is $63.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The stock has a market capitalization of $252.85 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $225,000. Edgestream Partners L.P. purchased a new stake in shares of Wells Fargo & Company in the second quarter worth $272,000. Mercer Global Advisors Inc. ADV raised its position in shares of Wells Fargo & Company by 16.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock valued at $34,546,000 after purchasing an additional 86,777 shares during the period. WCG Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 9.9% in the second quarter. WCG Wealth Advisors LLC now owns 46,982 shares of the financial services provider’s stock worth $2,790,000 after acquiring an additional 4,239 shares during the period. Finally, MQS Management LLC grew its holdings in Wells Fargo & Company by 61.1% during the 2nd quarter. MQS Management LLC now owns 9,990 shares of the financial services provider’s stock valued at $593,000 after buying an additional 3,790 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

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.