Wells Fargo & Company (NYSE:WFC) Price Target Increased to $68.00 by Analysts at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its price target raised by research analysts at Evercore ISI from $65.00 to $68.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target indicates a potential upside of 22.99% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Twelve investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.41.

Wells Fargo & Company Trading Down 0.2 %

Shares of Wells Fargo & Company stock traded down $0.10 during midday trading on Wednesday, reaching $55.29. The company had a trading volume of 1,655,165 shares, compared to its average volume of 18,036,191. The stock has a fifty day moving average price of $55.60 and a 200 day moving average price of $57.79. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The firm has a market cap of $192.76 billion, a PE ratio of 11.35, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at $594,000. CWA Asset Management Group LLC bought a new position in Wells Fargo & Company in the fourth quarter worth about $285,000. Capital World Investors lifted its holdings in Wells Fargo & Company by 1.0% in the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the period. Cetera Advisor Networks LLC boosted its position in Wells Fargo & Company by 2.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 348,187 shares of the financial services provider’s stock valued at $17,138,000 after acquiring an additional 8,943 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Wells Fargo & Company by 1,099.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 543,352 shares of the financial services provider’s stock worth $26,744,000 after acquiring an additional 498,039 shares during the period. 75.90% of the stock is currently owned by institutional investors.

About Wells Fargo & Company

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.