Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) had its price target upped by analysts at Keefe, Bruyette & Woods from $81.00 to $86.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 11.37% from the company’s previous close.

A number of other equities analysts have also weighed in on WFC. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.22 on Thursday. The business has a fifty day simple moving average of $72.60 and a 200-day simple moving average of $63.33. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a market cap of $257.11 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. 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 (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at $32,000. Hedge funds and other 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.