Jefferies Financial Group Increases Wells Fargo & Company (NYSE:WFC) Price Target to $60.00

Wells Fargo & Company (NYSE:WFC) had its price objective lifted by equities researchers at Jefferies Financial Group from $52.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 4.22% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Barclays lifted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $57.63.

Wells Fargo & Company Trading Down 0.4 %

Wells Fargo & Company stock opened at $57.57 on Monday. The company’s fifty day simple moving average is $54.48 and its 200-day simple moving average is $47.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. The stock has a market cap of $203.82 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.19 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 4.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WFC. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at about $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares during the period. Finally, Studio Investment Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $28,000. Institutional investors and hedge funds 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.