Wells Fargo & Company’s (WFC) Neutral Rating Reaffirmed at Compass Point

Wells Fargo & Company (NYSE:WFC)‘s stock had its “neutral” rating restated by research analysts at Compass Point in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $64.00 price objective on the financial services provider’s stock. Compass Point’s price objective would suggest a potential upside of 10.75% from the stock’s current price.

Several other research firms have also recently weighed in on WFC. HSBC boosted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Barclays boosted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. StockNews.com cut shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $57.63.

Wells Fargo & Company Stock Up 0.7 %

Shares of WFC opened at $57.79 on Tuesday. The company has a market capitalization of $204.60 billion, a P/E ratio of 11.99, a PEG ratio of 1.19 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The business’s 50 day simple moving average is $54.35 and its 200-day simple moving average is $47.88.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 4.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $2,623,044,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after purchasing an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Wells Fargo & Company during the first quarter worth about $345,861,000. Finally, Legal & General Group Plc grew its holdings in shares of Wells Fargo & Company by 31.3% during the fourth quarter. Legal & General Group Plc now owns 25,640,835 shares of the financial services provider’s stock worth $1,262,043,000 after purchasing an additional 6,118,817 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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.