Wells Fargo & Company (NYSE:WFC) Reaches New 1-Year High – Time to Buy?

Wells Fargo & Company (NYSE:WFC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $78.21 and last traded at $78.01, with a volume of 1392686 shares traded. The stock had previously closed at $77.08.

Analyst Ratings Changes

WFC has been the subject of several research reports. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.4 %

The firm has a market cap of $258.23 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.18 and a beta of 1.18. 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 business has a 50-day moving average of $73.03 and a 200-day moving average of $63.82.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Hedge Funds Weigh In On Wells Fargo & Company

Hedge funds have recently bought and sold shares of the company. Income Research & Management acquired a new position in Wells Fargo & Company during the third quarter worth about $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company in the second quarter worth approximately $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. 75.90% of the stock is owned by institutional investors.

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.