Wells Fargo & Company (NYSE:WFC) Price Target Lowered to $84.00 at Truist Financial

Wells Fargo & Company (NYSE:WFC) had its price objective decreased by Truist Financial from $86.00 to $84.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised their price objective 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, January 16th. Finally, Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Wells Fargo & Company Stock Performance

WFC opened at $60.91 on Friday. The company’s 50 day moving average is $74.93 and its 200 day moving average is $70.44. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. BNP Paribas bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.