Wells Fargo & Company (NYSE:WFC) Given a $48.00 Price Target at Piper Sandler

Piper Sandler set a $48.00 price objective on Wells Fargo & Company (NYSE:WFC) in a research report report published on Monday morning, Stock Target Advisor reports.

WFC has been the topic of several other reports. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. Barclays increased their target price on Wells Fargo & Company from $62.00 to $64.00 in a report on Monday, April 18th. StockNews.com initiated coverage on Wells Fargo & Company in a report on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley dropped their target price on Wells Fargo & Company from $72.00 to $66.00 and set an overweight rating for the company in a report on Monday, March 28th. Finally, Raymond James dropped their target price on Wells Fargo & Company from $65.00 to $60.00 and set an outperform rating for the company in a report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of Moderate Buy and an average price target of $57.62.

Shares of NYSE WFC opened at $37.90 on Monday. The firm has a market capitalization of $143.65 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.94 and a beta of 1.13. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $43.38 and its two-hundred day simple moving average is $49.03. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30.

Wells Fargo & Company (NYSE:WFC – Get Rating) last announced its earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 4.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 20.79%.

In related news, EVP Kleber Santos sold 22,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Landmark Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth $40,000. Level Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Gibson Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Financial Management Professionals Inc. boosted its stake in shares of Wells Fargo & Company by 193.3% in the 1st quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock worth $25,000 after buying an additional 344 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth $25,000. 74.01% of the stock is owned by institutional investors and hedge funds.

About Wells Fargo & Company (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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