Morgan Stanley Boosts Wells Fargo & Company (NYSE:WFC) Price Target to $80.00

Wells Fargo & Company (NYSE:WFC) had its target price lifted by stock analysts at Morgan Stanley from $79.00 to $80.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 30.35% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Truist Financial dropped their price objective on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Bank of America cut their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.55.

Wells Fargo & Company Stock Up 0.6 %

NYSE WFC traded up $0.39 on Monday, hitting $61.37. 19,899,585 shares of the stock were exchanged, compared to its average volume of 17,270,630. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a 50-day moving average price of $74.93 and a 200-day moving average price of $70.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $200.39 billion, a PE ratio of 11.42, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

Large investors have recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $28,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.