Compass Point Forecasts Strong Price Appreciation for Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) had its price target boosted by stock analysts at Compass Point from $60.00 to $83.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Compass Point’s price objective points to a potential upside of 15.10% from the company’s current price.

Several other research analysts also recently issued reports on WFC. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Finally, Evercore ISI boosted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $67.49.

Wells Fargo & Company Trading Down 0.7 %

Shares of NYSE:WFC traded down $0.51 during mid-day trading on Tuesday, reaching $72.11. 1,485,101 shares of the company were exchanged, compared to its average volume of 17,990,164. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $240.09 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.55 and a beta of 1.16. The firm’s 50-day simple moving average is $67.71 and its 200 day simple moving average is $60.88. Wells Fargo & Company has a 1 year low of $45.57 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current year.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its stake in Wells Fargo & Company by 10.7% in the second quarter. AdvisorNet Financial Inc now owns 18,355 shares of the financial services provider’s stock valued at $1,090,000 after acquiring an additional 1,775 shares during the last quarter. 180 Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $357,000. Wedge Capital Management L L P NC lifted its stake in Wells Fargo & Company by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 732,259 shares of the financial services provider’s stock valued at $43,489,000 after acquiring an additional 2,085 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in Wells Fargo & Company by 354.7% in the second quarter. J.Safra Asset Management Corp now owns 3,365 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Welch Group LLC lifted its stake in Wells Fargo & Company by 44.3% in the second quarter. Welch Group LLC now owns 21,166 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 6,500 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.