Wells Fargo Now Covered by BMO Capital Markets (WFC)
Analysts at BMO Capital Markets began coverage on shares of Wells Fargo (NYSE: WFC) in a research report issued to clients and investors on Wednesday. The firm set a “market perform” rating on the stock.
Wells Fargo traded up 0.30% on Wednesday, hitting $36.77. Wells Fargo has a 1-year low of $29.80 and a 1-year high of $37.18. The stock’s 50-day moving average is currently $35.34. The company has a market cap of $193.8 billion and a price-to-earnings ratio of 10.91.
Wells Fargo last announced its earnings results on Friday, January 11th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. The company had revenue of $21.90 billion for the quarter, compared to the consensus estimate of $21.29 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Wells Fargo will post $3.65 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WFC. Analysts at TheStreet reiterated a “buy” rating on shares of Wells Fargo in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo in a research note to investors on Wednesday, March 6th. They now have a $38.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Wells Fargo from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, February 19th.
Sixteen equities research analysts have rated the stock with a buy rating, five have issued an overweight rating, fifteen have issued a hold rating, and one has given a sell rating to the company’s stock. The company presently has an average rating of “overweight” and a consensus price target of $39.29.
Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking Wholesale Banking and Wealth, Brokerage and Retirement.
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