Wells Fargo & Co’s (WFC) Hold Rating Reiterated at BMO Capital Markets

Wells Fargo & Co (NYSE:WFC)‘s stock had its “hold” rating reaffirmed by equities research analysts at BMO Capital Markets in a note issued to investors on Thursday. They presently have a $59.00 target price on the financial services provider’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 5.48% from the company’s current price.

WFC has been the subject of a number of other reports. UBS Group set a $57.00 target price on Wells Fargo & Co and gave the company a “neutral” rating in a research note on Friday, October 6th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Nomura lifted their price objective on Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Finally, Instinet reiterated a “buy” rating and issued a $65.00 price objective (up from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.87.

Wells Fargo & Co (NYSE WFC) traded up $0.86 during trading on Thursday, reaching $62.42. The company’s stock had a trading volume of 5,870,717 shares, compared to its average volume of 14,010,301. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $62.24. The firm has a market capitalization of $309,270.00, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.72 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. sell-side analysts forecast that Wells Fargo & Co will post 3.99 EPS for the current fiscal year.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. 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 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the business. Delphi Private Advisors LLC grew its position in shares of Wells Fargo & Co by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the last quarter. Trent Capital Management Inc. NC purchased a new stake in Wells Fargo & Co during the fourth quarter valued at about $102,000. Rocky Mountain Advisers LLC lifted its stake in Wells Fargo & Co by 117.6% during the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter. Alexandria Capital LLC lifted its stake in Wells Fargo & Co by 0.3% during the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Finally, Brick & Kyle Associates increased its holdings in shares of Wells Fargo & Co by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo & Co 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.

Analyst Recommendations for Wells Fargo & Co (NYSE:WFC)

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