Equities research analysts at StockNews.com initiated coverage on shares of Wells Fargo & Company (NYSE:WFC) in a research report issued on Thursday. The brokerage set a "hold" rating on the financial services provider's stock.
A number of other analysts have also weighed in on the company. Odeon Capital Group lowered Wells Fargo & Company from a "buy" rating to a "hold" rating in a research note on Monday, March 13th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday, April 17th. Raymond James lifted their price target on Wells Fargo & Company from $47.00 to $48.00 and gave the company a "strong-buy" rating in a research report on Monday, April 17th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $46.00 to $49.00 in a research report on Friday, April 14th. Finally, Morgan Stanley dropped their price objective on Wells Fargo & Company from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 17th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.45.
Wells Fargo & Company Stock Performance
NYSE:WFC opened at $40.46 on Thursday. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $48.84. The stock has a market cap of $151.81 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.06. The firm's fifty day simple moving average is $38.89 and its 200 day simple moving average is $42.92.
Wells Fargo & Company (NYSE:WFC - Get Rating) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $20.06 billion. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. Wells Fargo & Company's quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, research analysts predict that Wells Fargo & Company will post 4.79 EPS for the current year.
Insider Activity at Wells Fargo & Company
In other Wells Fargo & Company news, EVP Kleber Santos sold 34,698 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the transaction, the executive vice president now owns 19,590 shares in the company, valued at approximately $906,429.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.
Institutional Trading of Wells Fargo & Company
A number of institutional investors and hedge funds have recently made changes to their positions in WFC. Silicon Valley Capital Partners bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Barrett & Company Inc. bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $25,000. US Asset Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Studio Investment Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the 1st quarter valued at approximately $28,000. Institutional investors own 72.24% of the company's stock.
About Wells Fargo & Company
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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