BMO Capital Markets Reiterates “Hold” Rating for Wells Fargo & Co (WFC)

Wells Fargo & Co (NYSE:WFC)‘s stock had its “hold” rating reiterated by investment analysts at BMO Capital Markets in a research note issued to investors on Monday, February 5th. They currently have a $60.00 price objective on the financial services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 0.32% from the stock’s previous close.

Several other equities analysts have also commented on WFC. Citigroup reiterated a “buy” rating and set a $65.00 price objective (up from $60.00) on shares of Wells Fargo & Co in a research report on Monday, October 9th. Credit Suisse Group reiterated a “hold” rating and set a $57.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, October 10th. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $52.91 target price for the company in a report on Monday, October 16th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus target price of $62.90.

Shares of Wells Fargo & Co (NYSE:WFC) traded up $0.26 during trading on Monday, hitting $59.81. The stock had a trading volume of 15,638,223 shares, compared to its average volume of 25,286,250. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. The company has a market cap of $294,180.00, a price-to-earnings ratio of 14.46, a PEG ratio of 1.52 and a beta of 1.01. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. Wells Fargo & Co’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. analysts expect that Wells Fargo & Co will post 4.72 EPS for the current year.

Wells Fargo & Co announced that its board has authorized a stock repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

In other news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald Sargent bought 9,000 shares of the stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $55.98 per share, with a total value of $503,820.00. Following the purchase, the director now owns 81 shares in the company, valued at $4,534.38. The disclosure for this purchase can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Delpha Capital Management LLC purchased a new position in shares of Wells Fargo & Co in the 4th quarter valued at approximately $103,000. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & Co in the 2nd quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC increased its position in Wells Fargo & Co by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares in the last quarter. Santori & Peters Inc. bought a new position in Wells Fargo & Co during the 4th quarter valued at approximately $110,000. Finally, Westside Investment Management Inc. increased its position in Wells Fargo & Co by 63.9% during the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares in the last quarter. Institutional investors own 76.00% of the company’s stock.

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Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Analyst Recommendations for Wells Fargo & Co (NYSE:WFC)

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