Wells Fargo & Company (NYSE:WFC) Price Target Raised to $67.00 at Evercore ISI

Wells Fargo & Company (NYSE:WFC) had its price objective lifted by stock analysts at Evercore ISI from $58.00 to $67.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would indicate a potential upside of 15.60% from the stock’s current price.

A number of other equities research analysts have also commented on WFC. Piper Sandler lowered their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Morgan Stanley raised their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Finally, Citigroup restated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $55.85.

Wells Fargo & Company Trading Up 0.6 %

Shares of Wells Fargo & Company stock traded up $0.35 on Thursday, reaching $57.96. 2,367,700 shares of the company’s stock were exchanged, compared to its average volume of 18,939,791. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44. The firm’s 50-day moving average is $52.78 and its two-hundred day moving average is $46.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $205.20 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds have recently made changes to their positions in WFC. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter worth $2,623,044,000. Northern Trust Corp boosted its holdings in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Capital World Investors lifted its holdings in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after purchasing an additional 263,176 shares in the last quarter. Moneta Group Investment Advisors LLC lifted 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 valued at $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Finally, Legal & General Group Plc lifted 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 valued at $1,262,043,000 after purchasing an additional 6,118,817 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

About Wells Fargo & Company

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.