Wells Fargo & Co (WFC) Receives Average Recommendation of “Hold” from Brokerages

Wells Fargo & Co (NYSE:WFC) has earned a consensus recommendation of “Hold” from the thirty research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $61.02.

A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a report on Thursday, January 4th. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a report on Wednesday. Vining Sparks reaffirmed a “buy” rating and issued a $75.00 target price on shares of Wells Fargo & Co in a report on Monday. Vetr cut shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price on the stock. in a report on Monday. Finally, Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.04 to $73.00 in a report on Tuesday.

In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 over the last 90 days. Insiders own 0.22% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Wells Fargo & Co in the 4th quarter worth about $2,706,000. Sawyer & Company Inc purchased a new stake in shares of Wells Fargo & Co in the 4th quarter worth about $2,846,000. Rockland Trust Co. boosted its position in shares of Wells Fargo & Co by 0.5% in the 4th quarter. Rockland Trust Co. now owns 325,817 shares of the financial services provider’s stock worth $19,767,000 after buying an additional 1,514 shares in the last quarter. National Investment Services Inc. WI boosted its position in shares of Wells Fargo & Co by 42.2% in the 4th quarter. National Investment Services Inc. WI now owns 54,832 shares of the financial services provider’s stock worth $3,327,000 after buying an additional 16,278 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its position in shares of Wells Fargo & Co by 8.7% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 31,290 shares of the financial services provider’s stock worth $1,898,000 after buying an additional 2,494 shares in the last quarter. Institutional investors own 75.70% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $63.01 on Friday. The firm has a market cap of $310,510.00, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $63.67. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. sell-side analysts expect that Wells Fargo & Co will post 3.98 EPS for the current year.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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