Several other analysts have also issued reports on WFC. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. The Goldman Sachs Group upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $48.00 in a research report on Monday, October 3rd. Finally, Citigroup cut their target price on shares of Wells Fargo & Company from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, December 21st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $55.23.
Wells Fargo & Company Stock Performance
NYSE WFC opened at $41.29 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $157.34 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.30 and a beta of 1.18. The firm’s 50 day simple moving average is $44.64 and its 200 day simple moving average is $43.26. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.21. The business had revenue of $19.51 billion for the quarter, compared to analyst estimates of $18.78 billion. Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. As a group, research analysts expect that Wells Fargo & Company will post 3.11 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Wells Fargo & Company
Hedge funds have recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $26,000. Financial Management Professionals Inc. raised its stake in Wells Fargo & Company by 66.6% during the third quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider’s stock worth $28,000 after buying an additional 275 shares during the last quarter. Destiny Wealth Partners LLC raised its stake in Wells Fargo & Company by 716.0% during the second quarter. Destiny Wealth Partners LLC now owns 767 shares of the financial services provider’s stock worth $30,000 after buying an additional 673 shares during the last quarter. Tortoise Investment Management LLC raised its stake in Wells Fargo & Company by 100.0% during the second quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider’s stock worth $31,000 after buying an additional 400 shares during the last quarter. Finally, Orion Capital Management LLC raised its stake in Wells Fargo & Company by 125.0% during the third quarter. Orion Capital Management LLC now owns 900 shares of the financial services provider’s stock worth $36,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.
About Wells Fargo & Company
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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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