Wells Fargo & Company (NYSE:WFC) was upgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $80.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.75% from the stock’s current price.
WFC has been the subject of a number of other research reports. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.39.
Get Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Price Performance
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Finally, Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Company Profile
Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
Further Reading
- Five stocks we like better than Wells Fargo & Company
- 3 Monster Growth Stocks to Buy Now
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- Canada Bond Market Holiday: How to Invest and Trade
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- Investing in Travel Stocks Benefits
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.