Shares of Wells Fargo (NYSE:WFC) have earned a consensus rating of “Hold” from the thirty research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $60.99.
Several research firms have recently issued reports on WFC. Sandler O’Neill reaffirmed a “buy” rating and issued a $64.00 price target on shares of Wells Fargo in a research report on Friday, April 13th. Susquehanna Bancshares set a $54.00 price target on Wells Fargo and gave the stock a “hold” rating in a research report on Friday, April 13th. Buckingham Research decreased their target price on Wells Fargo from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 target price on shares of Wells Fargo in a research report on Thursday, April 5th. Finally, Piper Jaffray reissued a “hold” rating and issued a $58.00 target price on shares of Wells Fargo in a research report on Monday, April 16th.
WFC opened at $52.56 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $251,399.44, a PE ratio of 12.79, a P/E/G ratio of 1.39 and a beta of 1.13. Wells Fargo has a 1 year low of $49.27 and a 1 year high of $66.31.
Wells Fargo announced that its board has approved a stock buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
In other Wells Fargo news, Director Ronald Sargent purchased 9,000 shares of Wells Fargo stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Summit Financial Strategies Inc. bought a new position in shares of Wells Fargo during the 4th quarter valued at approximately $209,000. Carret Asset Management LLC grew its stake in shares of Wells Fargo by 2.8% during the 3rd quarter. Carret Asset Management LLC now owns 53,814 shares of the financial services provider’s stock valued at $2,968,000 after acquiring an additional 1,446 shares during the period. Heritage Way Advisors LLC grew its stake in shares of Wells Fargo by 69.2% during the 4th quarter. Heritage Way Advisors LLC now owns 62,100 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 25,407 shares during the period. Western Standard LLC grew its stake in shares of Wells Fargo by 96.8% during the 3rd quarter. Western Standard LLC now owns 62,315 shares of the financial services provider’s stock valued at $3,437,000 after acquiring an additional 30,653 shares during the period. Finally, Personal Capital Advisors Corp grew its stake in shares of Wells Fargo by 5.0% during the 3rd quarter. Personal Capital Advisors Corp now owns 554,429 shares of the financial services provider’s stock valued at $30,577,000 after acquiring an additional 26,614 shares during the period. Institutional investors own 77.29% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Wells Fargo (WFC) Given Average Recommendation of “Hold” by Analysts” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://stocknewstimes.com/2018/04/22/wells-fargo-wfc-given-average-recommendation-of-hold-by-analysts.html.
Wells Fargo Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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.