Wells Fargo & Company (NYSE:WFC) PT Set at $48.00 by Piper Sandler

Wells Fargo & Company (NYSE:WFC) has been given a $48.00 price objective by Piper Sandler in a note issued to investors on Monday, Stock Target Advisor reports. Piper Sandler’s price target points to a potential upside of 23.11% from the company’s current price.

A number of other brokerages have also recently commented on WFC. StockNews.com initiated coverage on Wells Fargo & Company in a report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley decreased their price objective on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Citigroup upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $58.00 to $56.00 in a report on Monday, April 11th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Finally, Raymond James decreased their price objective on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.62.

Shares of WFC stock opened at $38.99 on Monday. The company has a market cap of $147.79 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. The stock has a 50 day simple moving average of $43.75 and a 200-day simple moving average of $49.18. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The firm had revenue of $17.59 billion during the quarter, compared to the consensus estimate of $17.82 billion. During the same period last year, the business posted $1.05 EPS. Wells Fargo & Company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

In related news, EVP Kleber Santos sold 22,700 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $44.44, for a total value of $1,008,788.00. Following the completion of the sale, the executive vice president now directly owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.05% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $1,158,000. Vise Technologies Inc. bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $269,000. Rehmann Capital Advisory Group grew its stake in shares of Wells Fargo & Company by 4.6% during the first quarter. Rehmann Capital Advisory Group now owns 23,799 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 1,053 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $259,000. Finally, Walleye Capital LLC grew its stake in shares of Wells Fargo & Company by 44.3% during the first quarter. Walleye Capital LLC now owns 191,393 shares of the financial services provider’s stock valued at $9,275,000 after purchasing an additional 58,800 shares during the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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