Wells Fargo & Company (NYSE:WFC) Price Target Raised to $88.00

Wells Fargo & Company (NYSE:WFC) had its price target upped by investment analysts at Morgan Stanley from $84.00 to $88.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 16.88% from the stock’s current price.

WFC has been the topic of several other research reports. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.49.

Wells Fargo & Company Price Performance

WFC stock traded down $0.66 on Thursday, hitting $75.29. 10,362,537 shares of the company’s stock traded hands, compared to its average volume of 15,252,909. The stock has a market cap of $250.67 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $72.41 and a 200-day moving average of $63.15.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently added to or reduced their stakes in WFC. Income Research & Management bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth $25,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

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.