Wells Fargo & Company (NYSE:WFC) Upgraded at Robert W. Baird

Wells Fargo & Company (NYSE:WFC) was upgraded by equities research analysts at Robert W. Baird from an “underperform” rating to a “neutral” rating in a report released on Friday,Benzinga reports. The brokerage currently has a $85.00 price objective on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential downside of 1.37% from the company’s current price.

Several other research firms have also issued reports on WFC. Freedom Capital lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Evercore dropped their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. TD Cowen cut their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.18 on Friday. The business has a 50-day simple moving average of $91.86 and a two-hundred day simple moving average of $85.85. The company has a market cap of $270.53 billion, a PE ratio of 13.74, a P/E/G ratio of 0.97 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the firm earned $1.43 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors have recently modified their holdings of WFC. Private Wealth Group LLC raised its position in shares of Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after buying an additional 108 shares during the last quarter. Nixon Peabody Trust Co. grew its stake in Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 115 shares during the period. Simmons Bank raised its holdings in Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the period. Finally, Main Street Group LTD boosted its holdings in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.