Wells Fargo & Company (NYSE:WFC) Raised to “Overweight” at Piper Sandler

Wells Fargo & Company (NYSE:WFC) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Tuesday, MarketBeat reports. The firm currently has a $77.00 price objective on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 15.75% from the stock’s current price.

A number of other research analysts have also recently weighed in on WFC. Barclays lifted their price objective 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. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their target price on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 4th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.66.

Wells Fargo & Company Trading Up 7.2 %

Shares of NYSE:WFC opened at $66.52 on Tuesday. The stock’s 50-day simple moving average is $73.47 and its two-hundred day simple moving average is $70.74. The stock has a market capitalization of $217.20 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors and hedge funds have recently bought and sold shares of WFC. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company during the 4th quarter worth about $28,000. BNP Paribas bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. 75.90% of the stock is owned by 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.