JPMorgan Chase & Co. Issues Pessimistic Forecast for Wells Fargo & Company (NYSE:WFC) Stock Price

Wells Fargo & Company (NYSE:WFC) had its target price reduced by JPMorgan Chase & Co. from $99.50 to $91.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.42% from the company’s previous close.

WFC has been the subject of a number of other research reports. Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Truist Financial reduced their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.70.

Wells Fargo & Company Stock Up 3.6%

Shares of NYSE WFC opened at $84.72 on Tuesday. The company has a 50 day simple moving average of $83.48 and a 200 day simple moving average of $86.19. The firm has a market cap of $261.40 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.06. Wells Fargo & Company has a 1 year low of $59.43 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Insider Activity

In other news, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares in the company, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 115,000 shares of company stock valued at $10,050,000. 0.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WFC. Norges Bank bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $4,512,563,000. Capital Research Global Investors increased its stake in Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock valued at $3,487,687,000 after purchasing an additional 1,760,484 shares in the last quarter. Legal & General Group Plc increased its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after purchasing an additional 188,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Wells Fargo & Company by 13.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after purchasing an additional 2,369,260 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Wells Fargo & Company by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Jefferies initiated coverage with a Buy and $100 price target, calling Wells Fargo the start of a multi-year recovery — a clear analyst endorsement that supports buying interest. Read More.
• Positive Sentiment: Macro relief from the Iran ceasefire has lifted bank sector sentiment and Zacks notes JPMorgan, Citigroup and Wells Fargo kick off the March‑quarter reporting season on April 14 — a healthier macro backdrop (lower oil/geo risk) can boost bank trading multiples and loan outlooks. Read More.
• Positive Sentiment: Wells Fargo completed senior unsecured note offerings (2029–2046 maturities) and expanded an FX payments partnership that enables community banks to send currency wires — moves that improve funding flexibility and fee‑product distribution. Read More.
• Neutral Sentiment: Wells Fargo announced a $6M philanthropic investment in West Charlotte — positive for community relations and brand, but unlikely to move earnings materially. Read More.
• Negative Sentiment: Zacks and other preview pieces flag that Wells Fargo may lack the right mix to deliver an earnings beat next week — lowered beat odds can pressure the stock around the report. Read More.
• Negative Sentiment: JPMorgan trimmed its price target on WFC to $91 and set a Neutral rating, a downgrade in upside expectation that can cap near-term analyst-driven gains. Read More.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.