Wells Fargo & Company (NYSE:WFC) Earns Underperform Rating from Robert W. Baird

Wells Fargo & Company (NYSE:WFC)‘s stock had its “underperform” rating reiterated by equities researchers at Robert W. Baird in a research note issued on Tuesday,Benzinga reports. They presently have a $90.00 target price on the financial services provider’s stock. Robert W. Baird’s target price suggests a potential downside of 6.62% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Finally, Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $93.17.

Wells Fargo & Company Stock Up 1.2%

Wells Fargo & Company stock opened at $96.38 on Tuesday. The company has a market capitalization of $302.54 billion, a P/E ratio of 15.85, a PEG ratio of 0.87 and a beta of 1.09. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The stock has a 50-day simple moving average of $89.01 and a 200-day simple moving average of $83.98.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Institutional Trading of Wells Fargo & Company

Institutional investors have recently modified their holdings of the business. Hilton Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $3,656,000. Three Bridge Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $364,000. Board of the Pension Protection Fund purchased a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $40,000. Empowered Funds LLC boosted its holdings in shares of Wells Fargo & Company by 25.5% during the first quarter. Empowered Funds LLC now owns 238,824 shares of the financial services provider’s stock worth $17,145,000 after purchasing an additional 48,494 shares during the period. Finally, Canoe Financial LP increased its stake in Wells Fargo & Company by 21.7% in the 2nd quarter. Canoe Financial LP now owns 3,394,260 shares of the financial services provider’s stock valued at $271,948,000 after buying an additional 604,930 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.