Wells Fargo & Company (NYSE:WFC) Upgraded at Phillip Securities

Wells Fargo & Company (NYSE:WFC) was upgraded by stock analysts at Phillip Securities from a “moderate buy” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on WFC. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Raymond James reduced their price target on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research report on Monday. Bank of America dropped their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Citigroup reduced their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Stock Up 2.4 %

Shares of NYSE WFC opened at $64.58 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The firm’s 50-day moving average price is $72.15 and its 200-day moving average price is $70.97. The stock has a market capitalization of $210.87 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.18 and a beta of 1.02.

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

Institutional Investors Weigh In On Wells Fargo & Company

A number of hedge funds have recently bought and sold shares of WFC. Spinnaker Trust lifted its position in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after buying an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after buying an additional 130 shares during the period. MONECO Advisors LLC boosted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 134 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its position in Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after buying an additional 137 shares during the period. Finally, Crown Wealth Group LLC increased its stake in Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Wells Fargo & Company

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.