Wells Fargo & Co (NYSE:WFC) issued its earnings results on Friday. The financial services provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.04), MarketWatch Earnings reports. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%.
NYSE WFC opened at $52.11 on Friday. The firm has a market cap of $256.37 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.43 and a beta of 1.15. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a fifty-two week low of $50.26 and a fifty-two week high of $66.31.
Several analysts have commented on WFC shares. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $57.00 to $62.00 in a research note on Monday, July 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Saturday, July 7th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 13th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research note on Friday, September 7th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $64.22.
In related news, EVP Hope A. Hardison sold 25,000 shares of Wells Fargo & Co stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of Wells Fargo & Co stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
A hedge fund recently bought a new stake in Wells Fargo & Co stock. HC Financial Advisors Inc. bought a new position in Wells Fargo & Co (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,789 shares of the financial services provider’s stock, valued at approximately $2,232,000. Wells Fargo & Co comprises about 2.2% of HC Financial Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. 77.57% of the stock is owned by institutional investors.
About Wells Fargo & Co
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.
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