Citigroup Issues Pessimistic Forecast for Wells Fargo & Company (NYSE:WFC) Stock Price

Wells Fargo & Company (NYSE:WFC) had its price target dropped by analysts at Citigroup from $82.00 to $78.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 5.02% from the company’s previous close.

Several other analysts have also recently commented on WFC. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Stock Down 0.0 %

NYSE WFC opened at $74.27 on Monday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market cap of $244.21 billion, a PE ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.16. The stock’s 50 day moving average is $76.09 and its 200 day moving average is $69.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. BNP Paribas purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Rakuten Securities Inc. grew its holdings in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth about $30,000. 75.90% of the stock is currently owned by hedge funds and other 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.