Barclays Forecasts Strong Price Appreciation for Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) had its price target hoisted by Barclays from $75.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 25.70% from the company’s current price.

WFC has been the subject of several other reports. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Finally, UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.24.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $71.60 on Monday. The business’s 50-day moving average price is $71.77 and its 200 day moving average price is $62.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a market capitalization of $238.39 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Insider Activity at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Wells Fargo & Company

A number of institutional investors and hedge funds have recently modified their holdings of WFC. Investors Research Corp grew its position in shares of Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares during the last quarter. Ellenbecker Investment Group grew its holdings in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 164 shares during the last quarter. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Modera Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its position in Wells Fargo & Company by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 168 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

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.