Wells Fargo & Company (NYSE:WFC) Coverage Initiated by Analysts at CICC Research

Investment analysts at CICC Research assumed coverage on shares of Wells Fargo & Company (NYSE:WFC) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a “market perform” rating and a $96.00 price target on the financial services provider’s stock. CICC Research’s price objective suggests a potential upside of 2.62% from the company’s current price.

WFC has been the subject of a number of other reports. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Baird R W downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Wolfe Research reiterated an “outperform” rating and set a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Evercore ISI reissued an “outperform” rating and issued a $110.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 6th. Finally, Truist Financial raised their price objective on Wells Fargo & Company from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $94.03.

View Our Latest Stock Analysis on WFC

Wells Fargo & Company Stock Down 1.5%

WFC stock opened at $93.55 on Wednesday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a market capitalization of $293.67 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. The business’s 50 day moving average price is $90.02 and its two-hundred day moving average price is $84.69. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. The company had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Access Investment Management LLC bought a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $25,000. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter worth $27,000. Marquette Asset Management LLC increased its position in Wells Fargo & Company by 472.4% in the third 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 last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at $30,000. Institutional investors own 75.90% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

About Wells Fargo & Company

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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.

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

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