Wells Fargo & Company (NYSE:WFC) Lowered to Strong Sell Rating by Baird R W

Wells Fargo & Company (NYSE:WFC) was downgraded by stock analysts at Baird R W from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on WFC. Truist Financial lifted their price target on Wells Fargo & Company from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley increased their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Robert W. Baird reaffirmed an “underperform” rating and issued a $90.00 target price on shares of Wells Fargo & Company in a research report on Tuesday. Finally, Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.63.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company Price Performance

WFC stock opened at $96.36 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The firm has a 50-day moving average of $89.20 and a 200 day moving average of $84.12. The company has a market cap of $302.49 billion, a P/E ratio of 15.85, a PEG ratio of 0.88 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the firm posted $1.42 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Hedge Funds Weigh In On Wells Fargo & Company

A number of hedge funds have recently bought and sold shares of the business. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company during the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the third quarter worth approximately $27,000. Finally, Marquette Asset Management LLC grew its position in Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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Wells Fargo & Company Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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