Wells Fargo & Co (WFC) Price Target Cut to $48.00

Wells Fargo & Co (NYSE:WFC) had its target price reduced by stock analysts at Deutsche Bank from $54.00 to $48.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price target points to a potential upside of 2.59% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird reiterated a “buy” rating and issued a $59.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Credit Suisse Group reiterated a “hold” rating and issued a $60.00 price objective on shares of Wells Fargo & Co in a research report on Friday, January 11th. Finally, Raymond James reiterated a “hold” rating on shares of Wells Fargo & Co in a research report on Friday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.45.

NYSE:WFC traded up $0.30 during trading hours on Monday, hitting $46.79. The company’s stock had a trading volume of 1,153,366 shares, compared to its average volume of 27,020,224. The stock has a market capitalization of $232.86 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.88. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $59.53.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The firm had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $20.89 billion. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, analysts predict that Wells Fargo & Co will post 4.93 EPS for the current year.

Several hedge funds have recently made changes to their positions in WFC. BlueMountain Capital Management LLC purchased a new stake in Wells Fargo & Co during the 3rd quarter worth about $1,940,000. Vident Investment Advisory LLC purchased a new stake in Wells Fargo & Co during the 3rd quarter worth about $207,000. HRT Financial LLC increased its position in Wells Fargo & Co by 17.9% during the 3rd quarter. HRT Financial LLC now owns 13,300 shares of the financial services provider’s stock worth $699,000 after purchasing an additional 2,024 shares in the last quarter. Laurel Wealth Advisors Inc. increased its position in Wells Fargo & Co by 17.7% during the 3rd quarter. Laurel Wealth Advisors Inc. now owns 56,041 shares of the financial services provider’s stock worth $2,944,000 after purchasing an additional 8,411 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. increased its position in Wells Fargo & Co by 0.8% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 214,995 shares of the financial services provider’s stock worth $11,300,000 after purchasing an additional 1,647 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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