Barclays Has Lowered Expectations for Wells Fargo & Company (NYSE:WFC) Stock Price

Wells Fargo & Company (NYSE:WFC) had its price objective dropped by equities researchers at Barclays from $92.00 to $87.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 37.72% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Truist Financial decreased their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America cut their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup decreased their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.88.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.66 on Monday, hitting $63.17. 20,084,515 shares of the company’s stock were exchanged, compared to its average volume of 17,634,617. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average price is $72.83 and its two-hundred day moving average price is $70.97. The firm has a market cap of $206.26 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter last year, the company earned $1.20 earnings per share. Wells Fargo & Company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing an additional 30,510 shares during the period. Valmark Advisers Inc. lifted its stake in Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 431 shares in the last quarter. NatWest Group plc boosted its position in Wells Fargo & Company by 57.7% during the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after acquiring an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 2,548 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.