Wells Fargo & Company (NYSE:WFC)‘s stock had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued on Sunday, July 30th.
A number of other equities research analysts have also weighed in on the stock. Vining Sparks raised shares of Wells Fargo & to a “strong-buy” rating and set a $65.00 price objective on the stock in a report on Thursday, April 27th. Credit Suisse Group reissued an “outperform” rating and set a $40.00 price objective (up from $36.00) on shares of Wells Fargo & in a report on Friday, April 14th. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & in a report on Monday, May 8th. Evercore ISI reissued an “outperform” rating and set a $64.00 price objective on shares of Wells Fargo & in a report on Tuesday, April 11th. Finally, Berenberg Bank lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the company from $35.00 to $45.00 in a report on Friday, July 21st. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Wells Fargo & presently has an average rating of “Hold” and an average price target of $55.87.
Shares of Wells Fargo & (NYSE WFC) opened at 51.68 on Friday. The stock has a market cap of $256.54 billion, a P/E ratio of 12.73 and a beta of 0.95. Wells Fargo & has a 1-year low of $43.55 and a 1-year high of $59.99. The company has a 50 day moving average price of $54.06 and a 200 day moving average price of $54.86. Wells Fargo & also saw unusually large options trading activity on Thursday. Stock investors bought 27,464 put options on the company. This is an increase of approximately 155% compared to the average daily volume of 10,758 put options.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. On average, equities analysts anticipate that Wells Fargo & will post $4.17 EPS for the current year.
Wells Fargo & declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
WARNING: “Wells Fargo & Company (NYSE:WFC) Stock Rating Reaffirmed by Piper Jaffray Companies” was first published by BNB Daily and is the property of of BNB Daily. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/19/wells-fargo-company-nysewfc-stock-rating-reaffirmed-by-piper-jaffray-companies-updated-updated.html.
In other news, insider Mary T. Mack sold 38,988 shares of Wells Fargo & stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.58, for a total value of $2,049,989.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hope A. Hardison sold 20,000 shares of Wells Fargo & stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the completion of the sale, the insider now directly owns 109 shares in the company, valued at approximately $5,675.63. The disclosure for this sale can be found here. Insiders have sold a total of 131,278 shares of company stock worth $6,940,120 over the last three months. 0.22% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Delphi Private Advisors LLC boosted its stake in shares of Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares during the period. Rocky Mountain Advisers LLC boosted its stake in shares of Wells Fargo & by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares during the period. Alexandria Capital LLC boosted its stake in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates boosted its stake in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the period. Finally, Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & during the second quarter valued at approximately $104,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.
About Wells Fargo &
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.
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.