JPMorgan Chase & Co. Has Lowered Expectations for Wells Fargo & Company (NYSE:WFC) Stock Price

Wells Fargo & Company (NYSE:WFC) had its price target reduced by analysts at JPMorgan Chase & Co. from $82.00 to $73.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 20.66% from the company’s previous close.

A number of other research firms have also recently commented on WFC. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley set a $79.00 target price on shares of Wells Fargo & Company in a report on Monday, March 24th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Bank of America cut their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $60.91 on Thursday. The stock has a market cap of $198.89 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a fifty day moving average price of $74.93 and a 200-day moving average price of $70.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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 analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Institutional Trading of Wells Fargo & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in shares of Wells Fargo & Company by 3.4% during the first quarter. Quent Capital LLC now owns 13,040 shares of the financial services provider’s stock valued at $936,000 after buying an additional 429 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Wells Fargo & Company by 84.2% during the 1st quarter. Versant Capital Management Inc now owns 9,189 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 4,200 shares during the period. Waller Financial Planning Group Inc. bought a new position in Wells Fargo & Company in the 1st quarter valued at $226,000. CWC Advisors LLC. increased its stake in Wells Fargo & Company by 2.2% in the fourth quarter. CWC Advisors LLC. now owns 16,796 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 365 shares during the period. Finally, 111 Capital bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $776,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

About Wells Fargo & Company

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.