Wells Fargo & Co (NYSE:WFC) had its price objective boosted by Royal Bank of Canada to $65.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Instinet reissued a buy rating and issued a $65.00 target price (up from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Nomura upped their target price on Wells Fargo & Co from $64.00 to $65.00 and gave the company a buy rating in a research report on Thursday, September 28th. Citigroup reissued a buy rating and issued a $65.00 target price (up from $60.00) on shares of Wells Fargo & Co in a research report on Monday, October 9th. Robert W. Baird reissued a buy rating and issued a $58.00 target price on shares of Wells Fargo & Co in a research report on Friday, October 6th. Finally, Goldman Sachs Group reissued a buy rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Wells Fargo & Co has a consensus rating of Hold and a consensus target price of $61.71.

Wells Fargo & Co (NYSE:WFC) traded up $0.07 during trading hours on Tuesday, hitting $63.95. The stock had a trading volume of 16,305,800 shares, compared to its average volume of 18,040,975. The firm has a market cap of $315,190.00, a PE ratio of 15.48, a P/E/G ratio of 1.68 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $64.31.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The firm had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. research analysts forecast that Wells Fargo & Co will post 4.7 EPS for the current fiscal year.

In other news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of WFC. Farmers Trust Co. raised its stake in shares of Wells Fargo & Co by 5.9% during the 2nd quarter. Farmers Trust Co. now owns 22,992 shares of the financial services provider’s stock worth $1,274,000 after buying an additional 1,283 shares in the last quarter. Deane Retirement Strategies Inc. purchased a new position in Wells Fargo & Co in the 2nd quarter valued at approximately $1,556,000. America First Investment Advisors LLC increased its stake in Wells Fargo & Co by 8.3% in the 2nd quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 200 shares in the last quarter. Perkins Coie Trust Co increased its stake in Wells Fargo & Co by 8.0% in the 2nd quarter. Perkins Coie Trust Co now owns 52,853 shares of the financial services provider’s stock valued at $2,928,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Country Club Trust Company n.a. increased its stake in Wells Fargo & Co by 0.3% in the 2nd quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock valued at $927,000 after purchasing an additional 47 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

The Fly

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

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