Wells Fargo & Company’s (WFC) Outperform Rating Reaffirmed at Royal Bank Of Canada

Wells Fargo & Company (NYSE:WFC)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Thursday,Benzinga reports. They presently have a $100.00 price target on the financial services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 12.26% from the stock’s current price.

Several other analysts have also issued reports on WFC. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Robert W. Baird reissued an “underperform” rating and issued a $90.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 6th. Baird R W downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Barclays upped their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.97.

Read Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Stock Down 0.2%

Shares of NYSE:WFC traded down $0.17 during mid-day trading on Thursday, hitting $89.08. 2,260,472 shares of the company traded hands, compared to its average volume of 14,708,029. The stock has a 50-day moving average price of $90.07 and a two-hundred day moving average price of $84.72. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The stock has a market cap of $279.62 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.86 and a beta of 1.09. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Balefire LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth about $295,000. Sunpointe LLC grew its holdings in Wells Fargo & Company by 4.8% in the second quarter. Sunpointe LLC now owns 3,866 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 178 shares during the period. Financial Management Network Inc. bought a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $315,000. Finally, Sunflower Bank N.A. boosted its holdings in Wells Fargo & Company by 9.6% in the second quarter. Sunflower Bank N.A. now owns 8,088 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 708 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

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Wells Fargo & Company Company Profile

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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.

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