On April 5, 2023, Morgan Stanley maintained coverage of Wells Fargo & with a Overweight recommendation.
Analyst Price Forecast Suggests 46.65% Upside
As of March 30, 2023, the average one-year price target for Wells Fargo & is $53.98. The forecasts range from a low of $42.42 to a high of $68.25. The average price target represents an increase of 46.65% from its latest reported closing price of $36.81.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Wells Fargo & is $82,578MM, an increase of 14.30%. The projected annual non-GAAP EPS is $5.15.
Wells Fargo & Declares $0.30 Dividend
On January 24, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of February 3, 2023 received the payment on March 1, 2023. Previously, the company paid $0.30 per share.
At the current share price of $36.81 / share, the stock's dividend yield is 3.26%. Looking back five years and taking a sample every week, the average dividend yield has been 2.88%, the lowest has been 0.72%, and the highest has been 8.30%. The standard deviation of yields is 1.81 (n=237).
The current dividend yield is 0.21 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.41%.
What are Other Shareholders Doing?
Bourgeon Capital Management holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 97.40%.
Cetera Investment Advisers holds 238K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 118K shares, representing an increase of 50.53%. The firm decreased its portfolio allocation in WFC by 3.67% over the last quarter.
Hillsdale Investment Management holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 1K shares, representing a decrease of 29.81%. The firm decreased its portfolio allocation in WFC by 99.97% over the last quarter.
XLF - The Financial Select Sector SPDR Fund holds 31,781K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 30,973K shares, representing an increase of 2.54%. The firm decreased its portfolio allocation in WFC by 8.72% over the last quarter.
Calamos Long holds 158K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 72K shares, representing an increase of 54.49%. The firm increased its portfolio allocation in WFC by 107.74% over the last quarter.
What is the Fund Sentiment?
There are 3221 funds or institutions reporting positions in Wells Fargo &. This is an increase of 110 owner(s) or 3.54% in the last quarter. Average portfolio weight of all funds dedicated to WFC is 0.68%, a decrease of 11.32%. Total shares owned by institutions increased in the last three months by 0.87% to 3,350,441K shares. The put/call ratio of WFC is 1.22, indicating a bearish outlook.
Wells Fargo & Background Information
(This description is provided by the company.)
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. It provides a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, through its four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities it serves, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
See all Wells Fargo & regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
