Buckingham Research upgraded shares of Wells Fargo & Co (NYSE:WFC) from a neutral rating to a buy rating in a research note issued to investors on Thursday, December 21st, Marketbeat.com reports. They currently have $75.00 price target on the financial services provider’s stock, up from their previous price target of $57.00. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on WFC. Keefe, Bruyette & Woods set a $61.00 target price on shares of Wells Fargo & Co and gave the company a buy rating in a research report on Friday, August 25th. Robert W. Baird restated a buy rating and issued a $58.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, September 5th. Vetr upgraded shares of Wells Fargo & Co to a strong-buy rating in a research report on Thursday, September 7th. Piper Jaffray Companies restated a neutral rating and issued a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & Co in a research report on Wednesday, September 13th. Finally, UBS Group restated a neutral rating and issued a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & Co in a research report on Friday, September 15th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $61.02.
Shares of Wells Fargo & Co (NYSE WFC) traded down $0.45 during trading on Thursday, hitting $62.55. 25,890,000 shares of the company’s stock traded hands, compared to its average volume of 20,510,000. The company has a market cap of $308,240.00, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $63.67. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.
Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.03 by $0.13. The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. research analysts forecast that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.
In other news, VP Richard Levy sold 97,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Delphi Private Advisors LLC lifted its stake in Wells Fargo & Co by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Brick & Kyle Associates lifted its stake in Wells Fargo & Co by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new stake in Wells Fargo & Co in the 2nd quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares during the last quarter. Finally, Clear Investment Research LLC acquired a new stake in Wells Fargo & Co in the 2nd quarter valued at about $121,000. Institutional investors own 75.70% of the company’s stock.
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About Wells Fargo & Co
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.
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