Wells Fargo & Co (NYSE:WFC) had its price target increased by equities research analysts at Royal Bank of Canada to $65.00 in a research report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 1.60% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 price target on the stock in a research note on Tuesday, October 24th. Vertical Group upgraded shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & Co in a report on Monday, October 16th. Buckingham Research raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $75.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Wells Fargo & Co in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and an average target price of $61.37.
Shares of Wells Fargo & Co (NYSE WFC) traded up $0.09 during trading on Tuesday, hitting $63.97. 2,712,966 shares of the stock were exchanged, compared to its average volume of 19,700,000. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $64.24. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $315,410.00, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The firm had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. equities analysts forecast that Wells Fargo & Co will post 4.66 EPS for the current fiscal year.
In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock worth $10,471,050 in the last ninety days. Insiders own 0.22% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & Co during the second quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Wells Fargo & Co by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the period. Clear Investment Research LLC purchased a new position in shares of Wells Fargo & Co during the second quarter valued at approximately $121,000. Westside Investment Management Inc. lifted its stake in shares of Wells Fargo & Co by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares during the period. Finally, BKS Advisors LLC purchased a new position in shares of Wells Fargo & Co during the third quarter valued at approximately $143,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.
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Wells Fargo & Co Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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