Wells Fargo & Company (NYSE:WFC) PT Raised to $57.00

Wells Fargo & Company (NYSE:WFC) had its target price lifted by BMO Capital Markets from $55.00 to $57.00 in a research report issued on Thursday. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 0.81% from the stock’s previous close.

Several other equities research analysts have also issued reports on WFC. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.52.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $56.54 on Thursday. The firm’s 50 day moving average price is $59.48 and its two-hundred day moving average price is $55.78. The stock has a market cap of $197.12 billion, a PE ratio of 11.80, a PEG ratio of 1.47 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.08. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Hedge Funds Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Slagle Financial LLC boosted its stake in Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 68,356 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,835 shares in the last quarter. Trust Point Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $2,499,000. Stonegate Investment Group LLC lifted its stake in shares of Wells Fargo & Company by 5.2% in the first quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock valued at $2,256,000 after buying an additional 1,911 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after buying an additional 21,496 shares in the last quarter. 75.90% of the stock is currently 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.