Wells Fargo & Company (NYSE:WFC) Raised to “Neutral” at Robert W. Baird

Wells Fargo & Company (NYSE:WFC) was upgraded by investment analysts at Robert W. Baird from an “underperform” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $85.00 price objective on the financial services provider’s stock. Robert W. Baird’s target price indicates a potential downside of 2.24% from the company’s previous close.

Several other research firms have also recently commented on WFC. TD Cowen decreased their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Argus boosted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Price Performance

Shares of WFC opened at $86.94 on Friday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The stock has a fifty day moving average price of $91.80 and a 200 day moving average price of $85.90. The company has a market cap of $272.92 billion, a P/E ratio of 13.87, a PEG ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter valued at $25,000. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $25,000. Navalign LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $27,000. Finally, Marquette Asset Management LLC lifted its holdings in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 274 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.