Robert W. Baird Reaffirms “Buy” Rating for Wells Fargo & Company (WFC)

Robert W. Baird reaffirmed their buy rating on shares of Wells Fargo & Company (NYSE:WFC) in a research report released on Friday. They currently have a $58.00 price target on the financial services provider’s stock.

A number of other research firms have also recently issued reports on WFC. UBS AG reaffirmed a neutral rating and issued a $56.00 price target (down previously from $59.00) on shares of Wells Fargo & in a report on Friday, September 15th. Piper Jaffray Companies reissued a neutral rating and set a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday, September 13th. Berenberg Bank cut shares of Wells Fargo & from a hold rating to a sell rating and raised their target price for the stock from $35.00 to $45.00 in a report on Friday, July 21st. Keefe, Bruyette & Woods reissued an overweight rating on shares of Wells Fargo & in a report on Thursday, July 13th. Finally, Vetr cut shares of Wells Fargo & from a buy rating to a sell rating and set a $48.62 target price for the company. in a report on Wednesday, September 13th. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $56.44.

Wells Fargo & (NYSE WFC) opened at 55.58 on Friday. Wells Fargo & has a one year low of $44.28 and a one year high of $59.99. The company has a 50-day moving average of $52.59 and a 200-day moving average of $53.59. The stock has a market capitalization of $275.90 billion, a price-to-earnings ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Wells Fargo &’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & will post $4.14 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Robert W. Baird Reaffirms “Buy” Rating for Wells Fargo & Company (WFC)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/09/robert-w-baird-reaffirms-buy-rating-for-wells-fargo-company-wfc.html.

Wells Fargo & announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in WFC. Boston Partners grew its holdings in shares of Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares in the last quarter. Kelman Lazarov Inc. grew its holdings in shares of Wells Fargo & by 6.0% in the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Wells Fargo & by 4.7% in the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Dixon Hubard F

A number of other research firms have also recently issued reports on WFC. UBS AG reaffirmed a neutral rating and issued a $56.00 price target (down previously from $59.00) on shares of Wells Fargo & in a report on Friday, September 15th. Piper Jaffray Companies reissued a neutral rating and set a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday, September 13th. Berenberg Bank cut shares of Wells Fargo & from a hold rating to a sell rating and raised their target price for the stock from $35.00 to $45.00 in a report on Friday, July 21st. Keefe, Bruyette & Woods reissued an overweight rating on shares of Wells Fargo & in a report on Thursday, July 13th. Finally, Vetr cut shares of Wells Fargo & from a buy rating to a sell rating and set a $48.62 target price for the company. in a report on Wednesday, September 13th. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $56.44.

Wells Fargo & (NYSE WFC) opened at 55.58 on Friday. Wells Fargo & has a one year low of $44.28 and a one year high of $59.99. The company has a 50-day moving average of $52.59 and a 200-day moving average of $53.59. The stock has a market capitalization of $275.90 billion, a price-to-earnings ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Wells Fargo &’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & will post $4.14 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Robert W. Baird Reaffirms “Buy” Rating for Wells Fargo & Company (WFC)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/09/robert-w-baird-reaffirms-buy-rating-for-wells-fargo-company-wfc.html.

Wells Fargo & announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in WFC. Boston Partners grew its holdings in shares of Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares in the last quarter. Kelman Lazarov Inc. grew its holdings in shares of Wells Fargo & by 6.0% in the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Wells Fargo & by 4.7% in the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA grew its holdings in shares of Wells Fargo & by 25.8% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 1,500 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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