Wells Fargo & Company (NYSE:WFC) Price Target Raised to $68.00 at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its price target raised by research analysts at Evercore ISI from $65.00 to $68.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 22.99% from the company’s current price.

A number of other research analysts also recently issued reports on WFC. Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.41.

Wells Fargo & Company Trading Down 0.2 %

NYSE:WFC traded down $0.10 during trading hours on Wednesday, hitting $55.29. The stock had a trading volume of 1,655,165 shares, compared to its average volume of 18,036,191. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a market cap of $192.76 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The business’s 50 day moving average is $55.60 and its 200-day moving average is $57.79.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Institutional Trading of Wells Fargo & Company

Hedge funds and other institutional investors have recently bought and sold shares of the business. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $25,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $26,000. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Wells Fargo & Company

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.