Wells Fargo & Company (NYSE:WFC) Receives Average Rating of “Moderate Buy” from Brokerages

Wells Fargo & Company (NYSE:WFC) has earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $96.9750.

Several equities research analysts have weighed in on WFC shares. Freedom Capital cut shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. TD Cowen decreased their price objective on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, January 15th. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a research note on Friday, February 13th. Argus increased their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group cut their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd.

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 115,000 shares of company stock valued at $10,050,000. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $25,000. Miller Capital Partners Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $76.74 on Tuesday. The company has a market capitalization of $236.80 billion, a P/E ratio of 12.24, a PEG ratio of 0.82 and a beta of 1.08. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $84.34 and a two-hundred day moving average price of $86.27.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a $0.45 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

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.