Wells Fargo & Company (NYSE:WFC) PT Raised to $64.00

Wells Fargo & Company (NYSE:WFC) had its price objective raised by research analysts at Jefferies Financial Group from $62.00 to $64.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 5.51% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.36.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $60.66 on Wednesday. The company’s fifty day moving average price is $59.54 and its 200 day moving average price is $55.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The firm has a market capitalization of $211.48 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.50 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds have recently modified their holdings of WFC. AQR Capital Management LLC grew its holdings in shares of Wells Fargo & Company by 6.7% during the 3rd quarter. AQR Capital Management LLC now owns 358,464 shares of the financial services provider’s stock worth $14,647,000 after purchasing an additional 22,581 shares during the period. Alps Advisors Inc. grew its stake in shares of Wells Fargo & Company by 76.8% in the third quarter. Alps Advisors Inc. now owns 23,743 shares of the financial services provider’s stock valued at $970,000 after buying an additional 10,312 shares in the last quarter. JT Stratford LLC raised its stake in shares of Wells Fargo & Company by 2.3% during the third quarter. JT Stratford LLC now owns 14,539 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 329 shares during the period. Seven Eight Capital LP purchased a new stake in Wells Fargo & Company during the 3rd quarter worth $1,731,000. Finally, Schroder Investment Management Group boosted its position in Wells Fargo & Company by 0.3% in the 3rd quarter. Schroder Investment Management Group now owns 2,372,996 shares of the financial services provider’s stock valued at $96,961,000 after buying an additional 6,515 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.