Wells Fargo & Company (NYSE:WFC) had its price target boosted by equities researchers at Argus from $57.00 to $66.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Argus’ target price indicates a potential upside of 17.02% from the stock’s previous close.
WFC has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. StockNews.com lowered Wells Fargo & Company from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group raised their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Barclays upped their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.85.
View Our Latest Stock Analysis on WFC
Wells Fargo & Company Stock Performance
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the business posted $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 4.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Wells Fargo & Company
Hedge funds have recently bought and sold shares of the business. Lazari Capital Management Inc. grew its stake in Wells Fargo & Company by 0.9% in the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 202 shares during the period. Webster Bank N. A. lifted its holdings in Wells Fargo & Company by 2.0% during the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN grew its position in shares of Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares during the period. CX Institutional increased its stake in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its position in shares of Wells Fargo & Company by 3.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 219 shares during 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.
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