Wells Fargo & Company (NYSE:WFC) Given New $101.00 Price Target at Keefe, Bruyette & Woods

Wells Fargo & Company (NYSE:WFC) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $92.00 to $101.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 8.92% from the company’s previous close.

A number of other analysts have also commented on WFC. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. TD Cowen increased their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, Evercore ISI lifted their price objective on Wells Fargo & Company from $101.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.32.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE WFC traded up $0.54 during midday trading on Wednesday, hitting $92.73. The stock had a trading volume of 6,504,523 shares, compared to its average volume of 16,317,199. The business’s 50 day moving average is $85.98 and its 200-day moving average is $82.05. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $94.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $291.09 billion, a P/E ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt raised its position in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Norges Bank purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at $3,990,551,000. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after buying an additional 5,894,747 shares during the period. Capital Research Global Investors increased its position in Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after acquiring an additional 5,584,930 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $215,638,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

About Wells Fargo & Company

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.