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.
Access our leading research platform which includes MarketBeat Daily Premium, portfolio monitoring tools, stock screeners, research tools, a real-time news feed, email and SMS notifications, the MarketBeat Idea Engine, proprietary brokerage rankings, advanced data export tools and much more. Save 50% on your 2022 subscription. Just $ 1.00 for the first 30 days.
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
This instant news alert was generated through narrative science technology and financial data from MarketBeat to deliver the fastest, most accurate coverage to readers. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $ 1,000 in Wells Fargo & Company now?
Before you think about Wells Fargo & Company, this is what you should hear.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are whispering to their customers to buy now, before the broader market takes hold … and Wells Fargo & Company wasn’t on the list.
While Wells Fargo & Company is currently rated “Buy” by analysts, top-rated analysts think these five stocks are better buys.
Check out the 5 stocks here