Wells Fargo & Company (NYSE:WFC) Price Target Raised to $90.00 at Barclays

Wells Fargo & Company (NYSE:WFC) had its price objective boosted by research analysts at Barclays from $75.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 25.70% from the company’s current price.

A number of other analysts also recently commented on WFC. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.24.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $71.60 on Monday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $238.39 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The business has a 50 day simple moving average of $71.77 and a 200 day simple moving average of $62.69.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Wells Fargo & Company

Hedge funds have recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $1,719,000. Acadian Asset Management LLC lifted its stake in Wells Fargo & Company by 155.1% in the second quarter. Acadian Asset Management LLC now owns 215,449 shares of the financial services provider’s stock valued at $12,790,000 after acquiring an additional 130,985 shares during the last quarter. Ellis Investment Partners LLC bought a new stake in Wells Fargo & Company in the second quarter worth approximately $250,000. Ballentine Partners LLC increased its stake in shares of Wells Fargo & Company by 6.2% during the 2nd quarter. Ballentine Partners LLC now owns 37,991 shares of the financial services provider’s stock worth $2,256,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $2,952,000. 75.90% of the stock is owned by institutional investors and hedge funds.

About Wells Fargo & Company

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.