Sandler O’Neill reaffirmed their buy rating on shares of Wells Fargo (NYSE:WFC) in a report published on Friday. Sandler O’Neill currently has a $64.00 price target on the financial services provider’s stock.

A number of other research analysts have also recently commented on WFC. Vining Sparks restated a buy rating and issued a $65.00 price target on shares of Wells Fargo in a research report on Friday. Keefe, Bruyette & Woods restated a hold rating and issued a $57.00 price target on shares of Wells Fargo in a research report on Thursday, April 5th. Morgan Stanley cut Wells Fargo from an overweight rating to an underweight rating and decreased their price target for the stock from $75.00 to $64.00 in a research report on Tuesday, February 6th. Vetr upgraded Wells Fargo from a hold rating to a buy rating and set a $54.10 price target on the stock in a research report on Wednesday, April 11th. Finally, Zacks Investment Research cut Wells Fargo from a hold rating to a sell rating in a research report on Monday, April 9th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $61.31.

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Shares of NYSE WFC opened at $50.80 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Wells Fargo has a 52 week low of $49.27 and a 52 week high of $66.31. The firm has a market capitalization of $248,228.89, a P/E ratio of 12.36, a P/E/G ratio of 1.34 and a beta of 1.13.

Wells Fargo (NYSE:WFC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. Wells Fargo had a return on equity of 12.44% and a net margin of 22.80%. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same quarter last year, the business earned $1.00 earnings per share. Wells Fargo’s revenue was down 1.4% on a year-over-year basis. equities analysts anticipate that Wells Fargo will post 4.69 EPS for the current year.

Wells Fargo announced that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

In other news, Director Ronald Sargent purchased 9,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, with a total value of $503,820.00. Following the completion of the purchase, the director now owns 81 shares of the company’s stock, valued at approximately $4,534.38. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Delpha Capital Management LLC bought a new position in shares of Wells Fargo during the fourth quarter worth about $103,000. Stelac Advisory Services LLC bought a new position in shares of Wells Fargo during the fourth quarter worth about $109,000. Santori & Peters Inc. bought a new position in shares of Wells Fargo during the fourth quarter worth about $110,000. Westside Investment Management Inc. raised its position in shares of Wells Fargo by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 891 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Wells Fargo during the fourth quarter worth about $132,000. 77.29% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo Company Profile

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.

Analyst Recommendations for Wells Fargo (NYSE:WFC)

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