Wells Fargo & Company (NYSE:WFC) Price Target Raised to $66.00 at Argus

Wells Fargo & Company (NYSE:WFC) had its target price boosted by Argus from $57.00 to $66.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a neutral rating on the stock in a research report on Tuesday, January 16th. Odeon Capital Group cut shares of Wells Fargo & Company from a buy rating to a hold rating and set a $48.80 price target for the company. in a research note on Thursday, January 18th. Keefe, Bruyette & Woods restated a market perform rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Oppenheimer reiterated a market perform rating on shares of Wells Fargo & Company in a research note on Monday. Finally, StockNews.com cut shares of Wells Fargo & Company from a hold rating to a sell rating in a research note on Thursday, April 4th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $58.85.

Wells Fargo & Company Trading Up 0.9 %

Wells Fargo & Company stock opened at $56.97 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $201.70 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The company’s fifty day moving average price is $55.08 and its two-hundred day moving average price is $48.44.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 4.68 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Institutional Trading of Wells Fargo & Company

A number of institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Wells Fargo & Company during the 4th quarter worth $2,623,044,000. Northern Trust Corp grew its holdings in Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares during the period. Capital World Investors grew its holdings in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after acquiring an additional 263,176 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Finally, Legal & General Group Plc grew its holdings in Wells Fargo & Company by 31.3% during the 4th quarter. Legal & General Group Plc now owns 25,640,835 shares of the financial services provider’s stock worth $1,262,043,000 after acquiring an additional 6,118,817 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

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.