Wells Fargo & Company (NYSE:WFC) Rating Reiterated by Keefe, Bruyette & Woods

Wells Fargo & Company (NYSE:WFC)‘s stock had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a report issued on Wednesday, MarketBeat.com reports. They currently have a $62.00 price target on the financial services provider’s stock, up from their previous price target of $56.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 9.37% from the company’s current price.

WFC has been the subject of a number of other reports. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. Citigroup reissued a “neutral” rating and issued a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Raymond James lifted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Morgan Stanley lifted their price target on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Twelve investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.31.

Wells Fargo & Company Stock Down 0.1 %

Shares of NYSE:WFC opened at $56.69 on Wednesday. The business’s 50 day simple moving average is $52.58 and its two-hundred day simple moving average is $46.83. The firm has a market cap of $200.71 billion, a P/E ratio of 11.76, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently bought and sold shares of the business. Lazari Capital Management Inc. grew its position in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN grew its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares in the last quarter. CX Institutional lifted its holdings in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after acquiring an additional 217 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of Wells Fargo & Company by 3.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 219 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 4.1% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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.