Wells Fargo & Company’s (WFC) “Underperform” Rating Reiterated at Robert W. Baird

Wells Fargo & Company (NYSE:WFC)‘s stock had its “underperform” rating restated by equities researchers at Robert W. Baird in a research report issued on Tuesday,Benzinga reports. They presently have a $90.00 price objective on the financial services provider’s stock. Robert W. Baird’s price target suggests a potential downside of 6.62% from the stock’s previous close.

Several other research analysts have also commented on the stock. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Bank of America increased their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley boosted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup upped their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Evercore ISI raised their price objective on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $93.17.

Wells Fargo & Company Stock Up 1.2%

WFC opened at $96.38 on Tuesday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The business has a 50-day moving average of $89.01 and a 200-day moving average of $83.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $302.54 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Trading of Wells Fargo & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $47,000. Trust Co of the South acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $236,000. GAMMA Investing LLC increased its position in Wells Fargo & Company by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 63,051 shares of the financial services provider’s stock worth $5,876,000 after buying an additional 5,765 shares during the last quarter. First Financial Bank Trust Division raised its stake in Wells Fargo & Company by 1.6% in the fourth quarter. First Financial Bank Trust Division now owns 20,273 shares of the financial services provider’s stock valued at $1,889,000 after buying an additional 318 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in shares of Wells Fargo & Company by 3.9% in the third quarter. Cape Investment Advisory Inc. now owns 8,171 shares of the financial services provider’s stock valued at $685,000 after buying an additional 307 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

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.