Keefe, Bruyette & Woods Increases Wells Fargo & Company (NYSE:WFC) Price Target to $101.00

Wells Fargo & Company (NYSE:WFC) had its price objective increased by equities research analysts at Keefe, Bruyette & Woods from $92.00 to $101.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.48% from the company’s previous close.

WFC has been the topic of several other reports. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. UBS Group decreased their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Citigroup increased their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Evercore ISI lifted their target price on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Stock Down 1.3%

Shares of WFC opened at $91.42 on Wednesday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $94.26. The company has a market capitalization of $286.97 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11. The stock has a fifty day simple moving average of $86.47 and a two-hundred day simple moving average of $82.19. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

A number of hedge funds have recently added to or reduced their stakes in WFC. Main Street Group LTD grew its position in Wells Fargo & Company by 36.9% in the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. D Orazio & Associates Inc. boosted its position in shares of Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after buying an additional 118 shares during the period. Stonebrook Private Inc. boosted its position in shares of Wells Fargo & Company by 2.7% during the third quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider’s stock worth $378,000 after buying an additional 118 shares during the period. Hidden Cove Wealth Management LLC grew its holdings in Wells Fargo & Company by 2.0% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock worth $499,000 after buying an additional 119 shares in the last quarter. Finally, Weaver Consulting Group increased its position in Wells Fargo & Company by 1.6% in the 3rd quarter. Weaver Consulting Group now owns 7,441 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 119 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.