Morgan Stanley Cuts Wells Fargo & Company (NYSE:WFC) Price Target to $100.00

Wells Fargo & Company (NYSE:WFC) had its price objective cut by Morgan Stanley from $108.00 to $100.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on WFC. Truist Financial dropped their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Wolfe Research reaffirmed an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Finally, TD Cowen reduced their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.13.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $80.75 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $83.94 and its two-hundred day moving average price is $86.17. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The stock has a market capitalization of $249.17 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.86 and a beta of 1.06.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Insider Activity at Wells Fargo & Company

In related news, EVP Kleber Santos sold 25,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the transaction, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,000 shares of company stock worth $10,050,000 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hilton Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at $3,656,000. Diversified Trust Co. grew its holdings in Wells Fargo & Company by 59.7% during the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock worth $3,289,000 after acquiring an additional 13,196 shares during the period. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company in the third quarter worth about $147,165,000. Guerra Advisors Inc raised its position in Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock worth $3,222,000 after acquiring an additional 11,594 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in Wells Fargo & Company by 1,121.0% in the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after acquiring an additional 22,107 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

More Wells Fargo & Company News

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

• Positive Sentiment: HSBC upgraded WFC from “hold” to “buy” with a $94 price target, giving the stock a near-term positive catalyst and supporting the rally. Article Title
• Neutral Sentiment: Zacks notes rising investor attention in WFC (analysis/flow of interest rather than new fundamental news); this can amplify moves but is not a direct fundamental catalyst. Article Title
• Neutral Sentiment: Wells Fargo analysts trimmed coverage/price targets on other large names (Fiserv, Meta) this week—a sign the firm’s research desks are re?calibrating multiples across sectors rather than issuing bank?specific downgrades; this creates mixed headline flow for investors tracking analyst activity. Article Title Article Title
• Negative Sentiment: Morgan Stanley lowered its price target on WFC to $100 — a downward revision that injects some selling pressure and offsets part of the HSBC-driven buying. Article Title
• Negative Sentiment: Wells Fargo’s own equity team lowered its year?end S&P 500 target and its strategist Ohsung Kwon warned markets will remain volatile in coming months—comments that strengthen a risk?off backdrop and can cap upside for bank stocks broadly. Article Title Article Title

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.