Wells Fargo & Co. Given New $49.00 Price Target at Keefe, Bruyette & Woods (WFC)
Analysts at Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Co. (NYSE:WFC) from $50.00 to $49.00 in a research report issued to clients and investors on Monday, AmericanBankingNews.com reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 17.37% from the company’s current price.
Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.77% on Monday, hitting $41.75. The stock had a trading volume of 17,182,574 shares. Wells Fargo & Co. has a 52 week low of $31.25 and a 52 week high of $44.79. The stock has a 50-day moving average of $41.75 and a 200-day moving average of $40.75. The company has a market cap of $220.2 billion and a P/E ratio of 10.90. Wells Fargo & Co. also was the target of unusually large options trading activity on Friday. Stock traders bought 40,806 put options on the company. This is an increase of 175% compared to the typical daily volume of 14,830 put options.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $21.00 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $3.84 earnings per share for the current fiscal year.
WFC has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein cut their price target on shares of Wells Fargo & Co. from $46.00 to $45.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Monday. They now have a $46.00 price target on the stock, up previously from $45.00. Finally, analysts at Morgan Stanley raised their price target on shares of Wells Fargo & Co. to $48.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Wells Fargo & Co. presently has an average rating of “Hold” and an average target price of $43.81.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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