Analysts Set Wells Fargo & Company (NYSE:WFC) Target Price at $97.53

Shares of Wells Fargo & Company (NYSE:WFC) have been given an average rating of “Moderate Buy” by the twenty-six brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $97.5250.

WFC has been the topic of several research reports. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Truist Financial lowered their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, April 1st. Morgan Stanley cut their target price on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lowered their price target on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th.

Wells Fargo & Company Trading Up 0.8%

NYSE WFC opened at $76.52 on Wednesday. The firm has a market capitalization of $234.15 billion, a PE ratio of 11.81, a P/E/G ratio of 0.89 and a beta of 0.96. The stock’s 50 day moving average is $78.92 and its 200 day moving average is $85.25. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Wealth Group LLC raised its stake in Wells Fargo & Company by 2.5% during the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares during the period. Nixon Peabody Trust Co. grew its holdings in Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after buying an additional 115 shares in the last quarter. Simmons Bank lifted its holdings in shares of Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after buying an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 117 shares during the last quarter. Finally, Main Street Group LTD boosted its position in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 118 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.