wells fargo reports strong earnings and declares quarterly dividend
Wells Fargo & Company reported earnings of $1.43 per share, surpassing estimates of $1.34, while revenue reached $20.38 billion, slightly below the expected $20.58 billion. The company declared a quarterly dividend of $0.40, yielding 2.26%, and has a payout ratio of 29.74%. Analysts maintain a "Moderate Buy" rating, with a consensus price target of $74.97.
wells fargo receives mixed analyst ratings with price targets adjusted
Citigroup has lowered its price target for Wells Fargo & Company from $82 to $78, maintaining a "neutral" rating, while Royal Bank of Canada upgraded its rating to "outperform" with a target of $80. Other analysts have varied targets, with UBS setting it at $85 and Keefe, Bruyette & Woods at $86. Currently, the stock has a "Moderate Buy" rating and an average price target of $74.18, with institutional investors holding 75.90% of shares. Wells Fargo recently reported earnings of $1.43 per share, exceeding estimates, and announced a quarterly dividend of $0.40.
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