Barclays Raises Wells Fargo & Company (NYSE:WFC) Price Target to $92.00

Wells Fargo & Company (NYSE:WFC) had its target price upped by Barclays from $90.00 to $92.00 in a research note issued to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the company. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Stock Down 0.0 %

WFC opened at $75.94 on Thursday. The company has a 50 day moving average of $72.47 and a 200 day moving average of $63.24. The company has a market cap of $252.85 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Trust Co purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $238,000. Royal Fund Management LLC increased its holdings in Wells Fargo & Company by 232.1% during the 4th quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock valued at $4,470,000 after purchasing an additional 44,472 shares during the period. Ballentine Partners LLC raised its position in Wells Fargo & Company by 4.1% during the 4th quarter. Ballentine Partners LLC now owns 41,289 shares of the financial services provider’s stock valued at $2,900,000 after purchasing an additional 1,622 shares during the last quarter. Culbertson A N & Co. Inc. lifted its holdings in Wells Fargo & Company by 7.9% in the 4th quarter. Culbertson A N & Co. Inc. now owns 71,406 shares of the financial services provider’s stock worth $5,016,000 after buying an additional 5,219 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its position in shares of Wells Fargo & Company by 1.8% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 33,540 shares of the financial services provider’s stock worth $2,356,000 after buying an additional 591 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

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.