Wells Fargo & Company (NYSE:WFC) Stock Rating Upgraded by StockNews.com

Wells Fargo & Company (NYSE:WFC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other equities analysts have also issued reports on WFC. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Piper Sandler cut their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Up 0.9 %

WFC stock traded up $0.50 during trading on Monday, hitting $56.97. 18,079,864 shares of the company’s stock were exchanged, compared to its average volume of 18,593,412. The stock has a market capitalization of $201.70 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44. The business has a 50-day moving average price of $55.08 and a two-hundred day moving average price of $48.44.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company earned $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 4.68 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WFC. Kathmere Capital Management LLC lifted its position in shares of Wells Fargo & Company by 19.5% in the third quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 1,185 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in shares of Wells Fargo & Company by 410.5% in the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 54,262 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after buying an additional 11,825 shares during the period. Synovus Financial Corp boosted its position in Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $5,143,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.