Wells Fargo & Company (NYSE:WFC) had its price objective hoisted by analysts at Evercore ISI from $69.00 to $70.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would indicate a potential upside of 22.75% from the company’s previous close.
Several other research firms have also recently weighed in on WFC. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Morgan Stanley upped their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Argus upped their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.15.
Check Out Our Latest Analysis on WFC
Wells Fargo & Company Trading Down 0.3 %
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.
Hedge Funds Weigh In On Wells Fargo & Company
A number of hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its holdings in shares of Wells Fargo & Company by 27.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 2,721 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Wells Fargo & Company by 18.9% in the 3rd quarter. Mather Group LLC. now owns 19,105 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 3,032 shares in the last quarter. Westover Capital Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $206,000. Synovus Financial Corp boosted its holdings in shares of Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Wells Fargo & Company by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 3,283,375 shares of the financial services provider’s stock valued at $134,159,000 after purchasing an additional 17,016 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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