Wells Fargo & Company (NYSE:WFC) Stock Rating Upgraded by Royal Bank of Canada

Wells Fargo & Company (NYSE:WFC) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Thursday,Benzinga reports. The brokerage presently has a $80.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 15.97% from the company’s previous close.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $68.98 on Thursday. The company’s 50 day simple moving average is $75.94 and its 200 day simple moving average is $68.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $226.83 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds have recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth $29,000. Finally, Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.