Wells Fargo & Company (NYSE:WFC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Wells Fargo & Company (NYSE:WFC) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $92.00 to $101.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.92% from the stock’s current price.

A number of other brokerages have also issued reports on WFC. Citigroup boosted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. TD Cowen raised their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Barclays upped their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.32.

Wells Fargo & Company Trading Up 0.6%

WFC stock traded up $0.54 during midday trading on Wednesday, reaching $92.73. The company’s stock had a trading volume of 6,504,523 shares, compared to its average volume of 16,317,199. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day simple moving average of $85.98 and a two-hundred day simple moving average of $82.05. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $94.26. The firm has a market capitalization of $291.09 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Trading of Wells Fargo & Company

Institutional investors have recently made changes to their positions in the business. Saranac Partners Ltd acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $101,000. Swiss Life Asset Management Ltd boosted its holdings in shares of Wells Fargo & Company by 9.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 336,399 shares of the financial services provider’s stock valued at $28,197,000 after acquiring an additional 30,396 shares during the last quarter. Investment Research Partners LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth $522,000. Cambria Investment Management L.P. purchased a new position in shares of Wells Fargo & Company during the third quarter worth $226,000. Finally, Strategic Advocates LLC acquired a new position in Wells Fargo & Company during the third quarter valued at $107,000. Institutional investors and hedge funds 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.