Wells Fargo & Company (NYSE:WFC) Raised to Hold at Wall Street Zen

Wells Fargo & Company (NYSE:WFC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

WFC has been the subject of a number of other reports. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Truist Financial upped their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $80.63 on Friday. Wells Fargo & Company has a twelve month low of $55.98 and a twelve month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a market cap of $258.28 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company’s 50 day moving average is $80.77 and its 200 day moving average is $76.33.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Iowa State Bank acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $531,000. Aaron Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 49.4% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 33,499 shares of the financial services provider’s stock worth $2,808,000 after buying an additional 11,082 shares during the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $2,789,000. GAMMA Investing LLC increased its stake in Wells Fargo & Company by 7.5% during the 3rd quarter. GAMMA Investing LLC now owns 57,286 shares of the financial services provider’s stock worth $4,802,000 after buying an additional 3,984 shares in the last quarter. Finally, Capital Asset Advisory Services LLC raised its holdings in shares of Wells Fargo & Company by 4.9% during the third quarter. Capital Asset Advisory Services LLC now owns 40,298 shares of the financial services provider’s stock valued at $3,378,000 after acquiring an additional 1,885 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

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.