Shares of Wells Fargo (NYSE:WF) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. Wells Fargo’s rating score has improved by 66.7% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokerages have set a 1-year consensus target price of $54.00 for the company, according to Zacks. Zacks has also given Wells Fargo an industry rank of 218 out of 255 based on the ratings given to its competitors.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Wells Fargo from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Saturday, March 24th. ValuEngine downgraded Wells Fargo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Bank of America upgraded Wells Fargo from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 6th.
Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of Wells Fargo by 139.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,191 shares of the bank’s stock worth $132,000 after acquiring an additional 1,859 shares during the last quarter. Aperio Group LLC raised its position in shares of Wells Fargo by 64.9% during the first quarter. Aperio Group LLC now owns 109,567 shares of the bank’s stock worth $4,533,000 after acquiring an additional 43,125 shares during the last quarter. Finally, US Bancorp DE bought a new position in shares of Wells Fargo during the fourth quarter worth about $121,000. Institutional investors own 0.45% of the company’s stock.
Wells Fargo stock traded down $0.71 during trading hours on Monday, hitting $45.91. The stock had a trading volume of 1,167 shares, compared to its average volume of 14,139. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $10.53 billion, a PE ratio of 8.50, a P/E/G ratio of 1.10 and a beta of 1.11. Wells Fargo has a one year low of $38.29 and a one year high of $53.50.
Wells Fargo (NYSE:WF) last posted its earnings results on Wednesday, March 14th. The bank reported $0.38 EPS for the quarter. The firm had revenue of $1.45 billion during the quarter. Wells Fargo had a return on equity of 6.62% and a net margin of 15.02%. analysts predict that Wells Fargo will post 7.08 earnings per share for the current fiscal year.
About Wells Fargo
Woori Bank Co, Ltd., together with its subsidiaries, provides commercial banking products and services to individuals, small- and medium-sized enterprises, and large corporations in South Korea. It operates through six segments: Consumer Banking, Corporate Banking, Investment Banking, Capital Markets, Credit Card, and Other Operations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wells Fargo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo and related companies with MarketBeat.com's FREE daily email newsletter.