Wells Fargo & Company (NYSE:WFC) Stock Rating Upgraded by Robert W. Baird

Wells Fargo & Company (NYSE:WFC) was upgraded by stock analysts at Robert W. Baird from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a $85.00 price target on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential downside of 1.37% from the company’s current price.

A number of other equities research analysts have also weighed in on WFC. Barclays raised their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, January 5th. HSBC restated a “hold” rating and set a $74.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Finally, Evercore reduced their target price on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Price Performance

WFC stock opened at $86.18 on Friday. The stock has a 50-day moving average price of $91.86 and a two-hundred day moving average price of $85.85. The company has a market cap of $270.53 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Trading of Wells Fargo & Company

Large investors have recently added to or reduced their stakes in the business. Sumitomo Life Insurance Co. increased its holdings in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 38,422 shares of the financial services provider’s stock valued at $3,581,000 after purchasing an additional 333 shares during the period. Asset Allocation Strategies LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $235,000. Tudor Financial Inc. increased its stake in Wells Fargo & Company by 20.2% during the 4th quarter. Tudor Financial Inc. now owns 11,648 shares of the financial services provider’s stock valued at $1,086,000 after buying an additional 1,955 shares during the period. Atalanta Sosnoff Capital LLC raised its position in shares of Wells Fargo & Company by 2.9% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 12,066 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 338 shares in the last quarter. Finally, Vistica Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $307,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.