Wells Fargo & Company (WFC) Given Average Rating of “Hold” by Brokerages
Wells Fargo & Company (NYSE:WFC) has been given a consensus rating of “Hold” by the thirty-four research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $56.68.
A number of equities research analysts recently commented on WFC shares. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Robert W. Baird reiterated a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, BidaskClub raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boys Arnold & Co. Inc. grew its stake in shares of Wells Fargo & by 1.3% during the first quarter. Boys Arnold & Co. Inc. now owns 35,154 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 461 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & during the first quarter worth about $935,000. Hengehold Capital Management LLC increased its position in shares of Wells Fargo & by 3.1% during the first quarter. Hengehold Capital Management LLC now owns 39,994 shares of the financial services provider’s stock worth $2,226,000 after acquiring an additional 1,202 shares during the last quarter. Huntington Steele LLC increased its position in shares of Wells Fargo & by 2.1% during the first quarter. Huntington Steele LLC now owns 7,049 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 146 shares during the last quarter. Finally, City Holding Co. lifted its stake in shares of Wells Fargo & by 0.7% in the first quarter. City Holding Co. now owns 49,411 shares of the financial services provider’s stock worth $2,749,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.
Wells Fargo & (WFC) opened at 55.58 on Wednesday. Wells Fargo & has a 52 week low of $43.83 and a 52 week high of $59.99. The company has a 50-day moving average of $52.34 and a 200-day moving average of $53.58. The stock has a market capitalization of $275.90 billion, a price-to-earnings ratio of 13.69 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Wells Fargo & will post $4.15 earnings per share for the current year.
Wells Fargo & declared that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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Wells Fargo & Company Profile
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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