Investment Analysts’ Weekly Ratings Changes for Wells Fargo & Company (WFC)

Wells Fargo & Company (NYSE: WFC) recently received a number of ratings updates from brokerages and research firms:

• 12/10/2024 – Wells Fargo & Company had its price target raised by analysts at Compass Point from $60.00 to $83.00. They now have a “neutral” rating on the stock.
• 12/9/2024 – Wells Fargo & Company had its price target raised by analysts at UBS Group AG from $69.00 to $85.00. They now have a “buy” rating on the stock.
• 12/6/2024 – Wells Fargo & Company had its price target raised by analysts at The Goldman Sachs Group, Inc. from $72.00 to $82.00. They now have a “buy” rating on the stock.
• 12/3/2024 – Wells Fargo & Company had its price target raised by analysts at Piper Sandler from $62.00 to $75.00. They now have a “neutral” rating on the stock.
• 12/3/2024 – Wells Fargo & Company had its price target raised by analysts at Keefe, Bruyette & Woods from $61.00 to $79.00. They now have a “market perform” rating on the stock.
• 11/19/2024 – Wells Fargo & Company had its price target raised by analysts at Citigroup Inc. from $67.00 to $82.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – Wells Fargo & Company had its price target raised by analysts at Evercore ISI from $71.00 to $77.00. They now have an “outperform” rating on the stock.

Wells Fargo & Company Trading Up 1.5 %

WFC stock traded up $1.05 during midday trading on Tuesday, hitting $71.59. The stock had a trading volume of 4,438,584 shares, compared to its average volume of 18,056,609. The business has a fifty day moving average price of $70.32 and a two-hundred day moving average price of $61.69. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The firm has a market cap of $238.36 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. 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 announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Activity 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 shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WFC. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $211,000. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $29,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

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.