Wells Fargo & Company (NYSE: WFC) Receives Consensus “Buy” From Brokers

Wells Fargo & Company (NYSE: WFC) shares have been given a consensus rating of “Buy” by the 23 brokerage houses that currently cover the company, Marketbeat Ratings reports. Five research analysts have given the stock a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation. The average 12 month target price among brokers who have covered the stock for the past year is $ 50.43.

Several brokerage firms have commented on WFC. Odeon Capital Group upgraded Wells Fargo & Company’s stock from a “Hold” rating to a “Buy” rating and in a research report on Monday, November 29th, set a price target of $ 48.00 for the company firmly. Piper Sandler raised her price target for the shares of Wells Fargo & Company from USD 45.00 to USD 48.00 and gave the company a “neutral” rating in a research report on Friday, October 15. TheStreet upgraded Wells Fargo & Company’s stock from a “c +” rating to a “b-” rating in a research report on Thursday, October 14th. Raymond James raised his price target on the shares of Wells Fargo & Company from USD 55.00 to USD 58.00 and rated the company as “outperform” in a research report on Thursday, December 9th. Eventually, Morgan Stanley upgraded Wells Fargo & Company’s shares from an “equilibrium” rating to an “overweight” rating and set a price target of $ 61.00 for the company in a research report on Monday, December 6th.

WFC stock opened at $ 47.98 on Friday. The company has a current metric of 0.82, a quick ratio of 0.81 and debt of 0.95. The stock has a market capitalization of $ 197.03 billion, a P / E ratio of 11.32, a price to earnings-growth ratio of 1.02, and a beta of 1.31. The stock has a 50-day simple moving average of $ 49.61 and a 200-day simple moving average of $ 47.47. Wells Fargo & Company has a 1 year low of $ 29.40 and a 1 year high of $ 52.56.

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Wells Fargo & Company (NYSE: WFC) last released its quarterly results on Thursday, October 14th. The financial services company reported earnings per share (EPS) for the quarter of $ 1.17, beating the consensus estimate of $ 0.99 by $ 0.18. The company had revenue of $ 18.83 billion for the quarter, compared to analyst expectations of $ 18.31 billion. Wells Fargo & Company had a return on equity of 11.20% and a net margin of 23.82%. The company’s revenue for the quarter decreased 0.1% compared to the same quarter last year. For the same period last year, the company had earnings per share of $ 0.56. Analysts predict that Wells Fargo & Company will post 4.64 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Investors registered on Friday November 5th received a dividend of $ 0.20. The ex-dividend date of this dividend was Thursday November 4th. This equates to an annual dividend of $ 0.80 and a yield of 1.67%. Wells Fargo & Company’s payout ratio is 18.87%.

A number of hedge funds and other institutional investors have recently bought and sold WFC stock. Brinker Capital Investments LLC increased its stake in Wells Fargo & Company by 95.4% in the second quarter. Brinker Capital Investments LLC now owns 11,207 shares in the financial services company valued at $ 508,000 after purchasing an additional 5,472 shares during the reporting period. Catalyst Capital Advisors LLC bought a new stake in Wells Fargo & Company for $ 209,000 in the second quarter. WealthShield Partners LLC increased its position in Wells Fargo & Company by 24.6% in the second quarter. WealthShield Partners LLC now owns 3,905 shares in the financial services company valued at $ 177,000 after purchasing an additional 770 shares last quarter. Bogart Wealth LLC increased its position in Wells Fargo & Company by 26.3% in the second quarter. Bogart Wealth LLC now owns 1,921 shares in the financial services firm, valued at $ 87,000, after acquiring an additional 400 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Wells Fargo & Company by 0.5% in the second quarter. HighTower Advisors LLC now owns 2,353,631 shares in the financial services company valued at $ 106,589,000, after acquiring an additional 10,724 shares last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It operates in the provision of banking, insurance, investment, mortgage, and consumer and trade finance. The company operates in the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management and Others.

See also: dividend

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

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