Wells Fargo & Company (NYSE:WFC) had its price target cut by research analysts at Deutsche Bank Aktiengesellschaft from $37.00 to $35.00 in a report issued on Thursday, The Fly reports. The firm presently has a "buy" rating on the financial services provider's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 16.01% from the company's previous close.
A number of other brokerages have also weighed in on WFC. Barclays lifted their target price on shares of Wells Fargo & Company from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Monday, January 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, January 18th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $25.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, December 21st. BMO Capital Markets dropped their price objective on shares of Wells Fargo & Company from $35.00 to $31.00 and set a "market perform" rating on the stock in a research note on Friday, October 16th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from an "underperform" rating to a "sector perform" rating and boosted their price objective for the stock from $25.00 to $31.00 in a research note on Monday, November 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company's stock. Wells Fargo & Company has an average rating of "Buy" and a consensus target price of $33.50.
WFC opened at $30.17 on Thursday. The company has a 50 day moving average of $30.96 and a 200 day moving average of $26.25. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a 12 month low of $20.76 and a 12 month high of $48.50. The company has a market cap of $124.74 billion, a PE ratio of 81.54, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07.
Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Thursday, January 14th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company had revenue of $17.93 billion during the quarter, compared to the consensus estimate of $18 billion. During the same period in the previous year, the firm posted $0.93 EPS. The firm's revenue was down 9.7% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $50,000. Trust Asset Management LLC increased its stake in shares of Wells Fargo & Company by 30.8% in the fourth quarter. Trust Asset Management LLC now owns 28,674 shares of the financial services provider's stock worth $865,000 after acquiring an additional 6,751 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Wells Fargo & Company by 19.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 25,319 shares of the financial services provider's stock worth $808,000 after buying an additional 4,160 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth $397,000. Finally, Farmers Trust Co. boosted its holdings in Wells Fargo & Company by 38.3% during the fourth quarter. Farmers Trust Co. now owns 154,712 shares of the financial services provider's stock worth $4,669,000 after buying an additional 42,842 shares in the last quarter. Hedge funds and other institutional investors own 67.25% of the company's stock.
About Wells Fargo & Company
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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