Wells Fargo & Company (NYSE:WFC) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $65.00 price target on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 11.84% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $67.00 price objective (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $60.41.
Read Our Latest Stock Analysis on WFC
Wells Fargo & Company Stock Down 0.4 %
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business 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 15.17% and a return on equity of 12.30%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.15 EPS for the current year.
Institutional Trading of Wells Fargo & Company
Hedge funds and other institutional investors have recently modified their holdings of the company. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth $26,000. Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at about $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
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.
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