Wells Fargo & Company (NYSE:WFC) Price Target Raised to $90.00

Wells Fargo & Company (NYSE:WFC) had its price objective increased by Barclays from $75.00 to $90.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts have also weighed in on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $71.55 on Monday. The firm has a market capitalization of $238.23 billion, a PE ratio of 14.88, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $71.89 and a 200 day moving average price of $62.76. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.24%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Wells Fargo & Company

A number of institutional investors have recently added to or reduced their stakes in WFC. Dimensional Fund Advisors LP raised its holdings in shares of Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after purchasing an additional 831,975 shares in the last quarter. National Pension Service raised its holdings in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.