Wells Fargo & Company (NYSE:WFC) Price Target Lowered to $93.00 at UBS Group

Key Points

• Wells Fargo had its price target lowered by UBS Group from $95.00 to $93.00, indicating a potential upside of 15.12% from the current stock price.
• Analysts show mixed sentiment towards Wells Fargo, with ratings varying from "buy" to "market perform," resulting in an average rating of "Moderate Buy".
• The company's stock has seen a minor increase of 0.1%, trading at $80.79, with a market capitalization of $258.79 billion.

Wells Fargo & Company (NYSE:WFC) had its price target lowered by equities researchers at UBS Group from $95.00 to $93.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. UBS Group's price objective suggests a potential upside of 15.12% from the stock's current price.

Several other equities analysts have also recently commented on the company. Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Phillip Securities cut Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Finally, Truist Financial increased their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $84.21.

Wells Fargo & Company Stock Up 0.1%

NYSE WFC traded up $0.10 on Tuesday, reaching $80.79. The company had a trading volume of 4,213,390 shares, compared to its average volume of 16,607,354. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $57.07 and a 1 year high of $86.65. The firm has a 50-day moving average of $80.72 and a 200-day moving average of $76.39. The firm has a market capitalization of $258.79 billion, a PE ratio of 13.84, a P/E/G ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Norges Bank acquired a new position in Wells Fargo & Company during the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its holdings in Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after acquiring an additional 7,894,919 shares during the last quarter. Amundi lifted its stake in Wells Fargo & Company by 18.2% during the second quarter. Amundi now owns 14,155,753 shares of the financial services provider's stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in Wells Fargo & Company by 8,010.7% in the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider's stock worth $158,135,000 after buying an additional 1,949,395 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

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.

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