Wells Fargo & Company (NYSE:WFC) Stock Price Expected to Rise, Bank of America Analyst Says

Wells Fargo & Company (NYSE:WFC) had its price objective upped by equities researchers at Bank of America from $92.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target points to a potential upside of 19.09% from the stock’s current price.

WFC has been the subject of a number of other reports. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. TD Cowen upped their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday. Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Down 2.9%

Shares of Wells Fargo & Company stock opened at $83.97 on Wednesday. The business’s fifty day moving average price is $81.10 and its two-hundred day moving average price is $76.82. The company has a market capitalization of $268.99 billion, a P/E ratio of 13.81, a PEG ratio of 1.39 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds have recently made changes to their positions in the company. 180 Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 2.8% in the 3rd quarter. 180 Wealth Advisors LLC now owns 5,888 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 158 shares in the last quarter. LeConte Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 23.9% in the 3rd quarter. LeConte Wealth Management LLC now owns 4,123 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 795 shares in the last quarter. CMG Global Holdings LLC lifted its position in shares of Wells Fargo & Company by 7.7% in the 3rd quarter. CMG Global Holdings LLC now owns 3,319 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 236 shares in the last quarter. Nvwm LLC lifted its position in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Nvwm LLC now owns 48,943 shares of the financial services provider’s stock valued at $4,102,000 after acquiring an additional 448 shares in the last quarter. Finally, SWS Partners lifted its position in shares of Wells Fargo & Company by 5.7% in the 3rd quarter. SWS Partners now owns 45,077 shares of the financial services provider’s stock valued at $3,778,000 after acquiring an additional 2,415 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

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.