Wells Fargo & Company (NYSE:WFC) Upgraded to “Moderate Buy” at Dbs Bank

Wells Fargo & Company (NYSE:WFC) was upgraded by analysts at Dbs Bank to a “moderate buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

WFC has been the topic of several other research reports. Barclays upped their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. UBS Group dropped their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Trading Down 1.0%

WFC stock opened at $83.91 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The company has a fifty day moving average price of $81.61 and a two-hundred day moving average price of $77.29. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The stock has a market cap of $268.79 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. Equities analysts anticipate 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 WFC. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Norges Bank acquired a new stake in Wells Fargo & Company in the second quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Amundi boosted its stake in Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after buying an additional 2,180,693 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 8,010.7% in the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after acquiring an additional 1,949,395 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

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.