Credit Suisse Group Reiterates Hold Rating for Wells Fargo & Co (WFC)

Wells Fargo & Co (NYSE:WFC)‘s stock had its “hold” rating reiterated by stock analysts at Credit Suisse Group in a report issued on Friday. They presently have a $60.00 target price on the financial services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 25.34% from the company’s previous close.

WFC has been the subject of several other reports. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Macquarie upgraded Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a research note on Monday, October 15th. Barclays cut their price objective on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Citigroup upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Nomura dropped their price target on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $61.93.

Wells Fargo & Co stock traded up $0.12 during midday trading on Friday, reaching $47.87. 19,901,189 shares of the stock traded hands, compared to its average volume of 20,301,086. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $66.31. The firm has a market cap of $233.16 billion, a PE ratio of 11.65, a PEG ratio of 0.84 and a beta of 1.10. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.



Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The firm had revenue of $21.94 billion for the quarter, compared to the consensus estimate of $21.90 billion. As a group, equities research analysts forecast that Wells Fargo & Co will post 4.49 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its board has approved a share repurchase program on Tuesday, October 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in WFC. Sageworth Trust Co raised its stake in shares of Wells Fargo & Co by 257.9% in the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 1,550 shares in the last quarter. Lee Financial Co raised its stake in shares of Wells Fargo & Co by 433.4% in the third quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,037 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Wells Fargo & Co in the third quarter valued at $141,000. Parkside Investments LLC acquired a new stake in shares of Wells Fargo & Co in the third quarter valued at $174,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Wells Fargo & Co in the third quarter valued at $179,000. Institutional investors own 72.97% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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