Wells Fargo & Company (NYSE:WFC) Price Target Raised to $67.00 at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its price target increased by research analysts at Evercore ISI from $58.00 to $67.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target points to a potential upside of 15.60% from the stock’s current price.

A number of other analysts also recently commented on WFC. HSBC increased their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Piper Sandler cut their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Finally, Raymond James raised their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Twelve research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.85.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.35 during mid-day trading on Thursday, hitting $57.96. 2,367,700 shares of the stock were exchanged, compared to its average volume of 18,939,791. The firm has a fifty day moving average of $52.78 and a 200 day moving average of $46.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44. The company has a market cap of $205.20 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

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

Hedge Funds Weigh In On Wells Fargo & Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Finally, Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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.