Wells Fargo & Company (NYSE:WFC) Price Target Raised to $64.00

Wells Fargo & Company (NYSE:WFC) had its target price increased by equities researchers at Jefferies Financial Group from $62.00 to $64.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 5.89% from the stock’s current price.

Several other equities analysts have also commented on WFC. Compass Point reiterated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.36.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.53 during mid-day trading on Wednesday, hitting $60.44. 3,060,233 shares of the company’s stock traded hands, compared to its average volume of 18,342,270. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $210.71 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. The firm’s 50 day simple moving average is $59.54 and its 200 day simple moving average is $55.30. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.