JPMorgan Chase & Co. Raises Wells Fargo & Company (NYSE:WFC) Price Target to $47.00


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Wells Fargo & Company (NYSE:WFC) had its price objective increased by analysts at JPMorgan Chase & Co. from $41.50 to $47.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 2.75% from the company’s previous close.

Other analysts have also issued research reports about the stock. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $38.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, April 15th. They noted that the move was a valuation call. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 18th. Raymond James increased their price target on shares of Wells Fargo & Company from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Wells Fargo & Company from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Finally, Seaport Global Securities raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, January 19th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & Company presently has a consensus rating of “Buy” and a consensus target price of $40.83.

NYSE:WFC opened at $45.74 on Monday. The firm has a market capitalization of $189.10 billion, a P/E ratio of 123.62, a PEG ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $46.39. The company’s fifty day moving average price is $41.40 and its 200-day moving average price is $32.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.36. The firm had revenue of $18.06 billion for the quarter, compared to analyst estimates of $17.42 billion. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. North Star Asset Management Inc. lifted its stake in shares of Wells Fargo & Company by 1.4% in the first quarter. North Star Asset Management Inc. now owns 16,963 shares of the financial services provider’s stock worth $663,000 after buying an additional 240 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Wells Fargo & Company by 17.7% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,766 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 266 shares during the last quarter. Tributary Capital Management LLC increased its position in Wells Fargo & Company by 3.4% during the first quarter. Tributary Capital Management LLC now owns 9,100 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 300 shares during the last quarter. Quad Cities Investment Group LLC increased its position in Wells Fargo & Company by 1.4% during the first quarter. Quad Cities Investment Group LLC now owns 23,261 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 313 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Wells Fargo & Company by 10.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,575 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 325 shares during the last quarter. 67.25% of the stock is currently owned by hedge funds and other institutional investors.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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