Wells Fargo & Company (NYSE:WFC) Given New $86.00 Price Target at Keefe, Bruyette & Woods

Wells Fargo & Company (NYSE:WFC) had its price objective lifted by Keefe, Bruyette & Woods from $81.00 to $86.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 11.37% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.22 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The business has a 50 day simple moving average of $72.60 and a 200-day simple moving average of $63.33.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Institutional Trading of Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Quad Cities Investment Group LLC lifted its position in shares of Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp lifted its position in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after buying an additional 160 shares in the last quarter. Ellenbecker Investment Group grew its holdings in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares in the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company in the third quarter worth $211,000. Finally, Modera Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 167 shares in the last quarter. 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.