Keefe, Bruyette & Woods restated their buy rating on shares of Wells Fargo & Co (NYSE:WFC) in a research note released on Tuesday.
WFC has been the topic of several other reports. Vetr cut Wells Fargo & Co from a strong-buy rating to a sell rating and set a $55.47 price objective on the stock. in a report on Monday, January 8th. UBS Group set a $57.00 price objective on Wells Fargo & Co and gave the stock a neutral rating in a report on Friday, October 6th. Sanford C. Bernstein raised Wells Fargo & Co from a market perform rating to an outperform rating and upped their price objective for the stock from $64.00 to $69.00 in a report on Wednesday, January 3rd. BMO Capital Markets upped their price objective on Wells Fargo & Co from $49.00 to $50.00 and gave the stock a market perform rating in a report on Monday, October 16th. Finally, Goldman Sachs Group reaffirmed a buy rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $61.71.
Wells Fargo & Co (NYSE:WFC) traded up $0.07 during mid-day trading on Tuesday, reaching $63.95. The company’s stock had a trading volume of 16,305,800 shares, compared to its average volume of 18,040,975. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $64.31. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The company has a market cap of $315,190.00, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities analysts predict that Wells Fargo & Co will post 4.7 EPS for the current fiscal year.
In related news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 in the last 90 days. 0.22% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in WFC. Boston Partners increased its stake in Wells Fargo & Co by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares during the period. Capital World Investors grew its position in shares of Wells Fargo & Co by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after buying an additional 10,927,679 shares in the last quarter. Capital Research Global Investors grew its position in shares of Wells Fargo & Co by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after buying an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Co by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after buying an additional 6,291,906 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Wells Fargo & Co by 396.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after buying an additional 4,707,207 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
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About Wells Fargo & Co
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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