Wells Fargo & Company (NYSE:WFC) Price Target Increased to $68.00 by Analysts at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its target price upped by equities research analysts at Evercore ISI from $65.00 to $68.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 23.68% from the company’s current price.

Several other equities analysts have also weighed in on WFC. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Stock Down 0.6 %

Shares of WFC opened at $54.98 on Wednesday. The business’s fifty day moving average price is $55.43 and its two-hundred day moving average price is $57.76. The firm has a market capitalization of $191.68 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 12.30% and a net margin of 15.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Institutional Trading of Wells Fargo & Company

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP raised its position in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. Morningstar Investment Services LLC lifted its position in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares in the last quarter. Rokos Capital Management LLP boosted its holdings in Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new position in Wells Fargo & Company in the first quarter valued at $84,819,000. 75.90% of the stock is currently owned by 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.