Barclays Forecasts Strong Price Appreciation for Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) had its target price raised by stock analysts at Barclays from $90.00 to $92.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 19.14% from the company’s previous close.

A number of other brokerages have also weighed in on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $77.22 on Thursday. The firm has a fifty day simple moving average of $72.60 and a two-hundred day simple moving average of $63.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a market capitalization of $257.11 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Institutional Trading of Wells Fargo & Company

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cerro Pacific Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 3.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 4,809 shares of the financial services provider’s stock worth $338,000 after buying an additional 167 shares in the last quarter. Secure Asset Management LLC lifted its position in Wells Fargo & Company by 11.7% during the fourth quarter. Secure Asset Management LLC now owns 5,067 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 530 shares during the period. Madrona Financial Services LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $258,000. Cedar Point Capital Partners LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $234,000. Finally, MinichMacGregor Wealth Management LLC increased its position in shares of Wells Fargo & Company by 16.2% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 4,845 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 677 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

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.