UBS Group Lowers Wells Fargo & Company (NYSE:WFC) Price Target to $104.00

Wells Fargo & Company (NYSE:WFC) had its price objective dropped by equities researchers at UBS Group from $105.00 to $104.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 17.84% from the stock’s previous close.

Several other analysts have also issued reports on WFC. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Jefferies Financial Group started coverage on Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Truist Financial upped their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.24.

Wells Fargo & Company Trading Up 0.9%

NYSE:WFC opened at $88.25 on Tuesday. The company has a market cap of $270.07 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The business has a 50 day moving average price of $80.05 and a two-hundred day moving average price of $84.17. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the business earned $1.39 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 6.98 EPS for the current fiscal year.

Institutional Trading of Wells Fargo & Company

Hedge funds have recently added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Miller Capital Partners Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

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.