Analysts at StockNews.com initiated coverage on shares of Wells Fargo & Company (NYSE:WFC) in a report issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.
Several other research analysts have also issued reports on the stock. Piper Sandler lowered shares of Wells Fargo & Company from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $49.00 to $47.00 in a research note on Tuesday, January 17th. Cfra upgraded shares of Wells Fargo & Company to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, January 13th. Barclays increased their target price on shares of Wells Fargo & Company from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Finally, Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Monday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.09.
Wells Fargo & Company Trading Down 3.3 %
Shares of NYSE WFC opened at $38.85 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $36.54 and a 52-week high of $54.20. The firm has a 50 day moving average price of $45.18 and a two-hundred day moving average price of $44.30. The stock has a market cap of $147.39 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.84 and a beta of 1.17.
Insiders Place Their Bets
In other news, EVP Kleber Santos sold 34,698 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $46.27, for a total value of $1,605,476.46. Following the completion of the transaction, the executive vice president now directly owns 19,590 shares in the company, valued at $906,429.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.05% of the company’s stock.
Hedge Funds Weigh In On Wells Fargo & Company
Large investors have recently modified their holdings of the company. Silicon Valley Capital Partners bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. US Asset Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Studio Investment Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Financial Management Professionals Inc. lifted its position in Wells Fargo & Company by 66.6% during the third quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 275 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $34,000. 72.24% of the stock is currently owned by institutional investors.
Wells Fargo & Company Company Profile
Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
- Get a free copy of the StockNews.com research report on Wells Fargo & Company (WFC)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.