Wells Fargo & Company (NYSE:WFC) had its price objective decreased by stock analysts at Truist Financial from $84.00 to $73.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price would indicate a potential upside of 15.39% from the stock's current price.
A number of other equities analysts have also recently issued reports on WFC. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Bank of America lowered their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup reduced their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $74.97.
Read Our Latest Research Report on WFC
Wells Fargo & Company Stock Up 1.2 %
Shares of NYSE:WFC opened at $63.27 on Monday. The company has a market cap of $206.57 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a fifty day moving average price of $72.83 and a two-hundred day moving average price of $70.97. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.
Hedge Funds Weigh In On Wells Fargo & Company
Several hedge funds have recently modified their holdings of WFC. Norges Bank purchased a new stake in Wells Fargo & Company in the 4th quarter worth $3,365,658,000. Capital Research Global Investors grew its stake in shares of Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. GAMMA Investing LLC increased its stake in Wells Fargo & Company by 7,887.9% during the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock worth $243,589,000 after acquiring an additional 3,350,605 shares during the last quarter. Northern Trust Corp raised its stake in shares of Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after acquiring an additional 3,307,855 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Wells Fargo & Company in the 4th quarter worth about $198,801,000. Hedge funds and other institutional investors own 75.90% of the company's stock.
About Wells Fargo & Company
(
Get Free Report)
Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
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