WFC has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 in a report on Friday. The Goldman Sachs Group raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $48.00 in a report on Monday, October 3rd. Piper Sandler lifted their price objective on Wells Fargo & Company from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, October 17th. BMO Capital Markets boosted their target price on Wells Fargo & Company from $61.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, October 17th. Finally, Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.57.
Wells Fargo & Company Price Performance
WFC opened at $42.39 on Tuesday. The firm has a market cap of $161.53 billion, a PE ratio of 11.01, a P/E/G ratio of 0.85 and a beta of 1.18. The stock has a 50-day moving average price of $44.30 and a 200-day moving average price of $43.40. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.82.
Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. The business had revenue of $19.51 billion during 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%. Wells Fargo & Company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. Sell-side analysts predict that Wells Fargo & Company will post 3.11 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WFC. Vise Technologies Inc. purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $269,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the second quarter valued at about $26,000. Csenge Advisory Group lifted its position in shares of Wells Fargo & Company by 3.3% in the third quarter. Csenge Advisory Group now owns 21,920 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 700 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Wells Fargo & Company by 153.5% in the first quarter. Alyeska Investment Group L.P. now owns 760,564 shares of the financial services provider’s stock worth $36,857,000 after acquiring an additional 460,534 shares during the period. Finally, Chiron Capital Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth about $681,000. 72.24% of the stock is currently owned by institutional investors.
Wells Fargo & Company Company Profile
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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