Wells Fargo & Co (NYSE:WFC) had its price objective decreased by investment analysts at Royal Bank of Canada from $35.00 to $29.00 in a research report issued on Tuesday, The Fly reports. Royal Bank of Canada’s price target suggests a potential upside of 12.62% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Odeon Capital Group raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, March 26th. Compass Point dropped their price objective on Wells Fargo & Co from $33.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Deutsche Bank raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, June 3rd. Citigroup dropped their price objective on Wells Fargo & Co from $43.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, UBS Group downgraded Wells Fargo & Co from a “neutral” rating to a “sell” rating and set a $19.00 price objective for the company. in a research note on Monday, May 4th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $37.33.

Shares of WFC traded up $0.05 during mid-day trading on Tuesday, hitting $25.75. The company’s stock had a trading volume of 949,021 shares, compared to its average volume of 56,617,272. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47. The firm has a 50-day simple moving average of $26.81 and a 200 day simple moving average of $37.36. The firm has a market capitalization of $103.89 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.44 and a beta of 1.15. Wells Fargo & Co has a 1-year low of $22.00 and a 1-year high of $54.75.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.85). The business had revenue of $17.72 billion during the quarter, compared to analyst estimates of $19.40 billion. Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The firm’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Co will post 0.72 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Fairview Capital Investment Management LLC boosted its holdings in Wells Fargo & Co by 2.1% in the fourth quarter. Fairview Capital Investment Management LLC now owns 12,149 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 246 shares during the last quarter. X Square Capital LLC lifted its stake in shares of Wells Fargo & Co by 3.2% during the fourth quarter. X Square Capital LLC now owns 10,187 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 316 shares in the last quarter. Lehman & Derafelo Financial Resources LLC lifted its stake in shares of Wells Fargo & Co by 5.7% during the fourth quarter. Lehman & Derafelo Financial Resources LLC now owns 6,070 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 330 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Wells Fargo & Co by 5.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 7,287 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 347 shares in the last quarter. Finally, Glenview State Bank Trust DEPT. lifted its stake in shares of Wells Fargo & Co by 4.5% during the first quarter. Glenview State Bank Trust DEPT. now owns 8,210 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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