Today, Wells Fargo & Co. (WFC) Upgraded to “Market Perform” at BMO Capital Markets

Today, Wells Fargo & Co. (WFC) Upgraded to “Market Perform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Wells Fargo & Co. (NYSE:WFC) from an underperform rating to a market perform rating in a report issued on Monday morning. The analysts noted that the move was a valuation call.

Several other brokerages also recently commented on WFC. Atlantic Securities downgraded Wells Fargo & Co. from a neutral rating to an underweight rating and reduced their target price for the stock from $46.15 to $44.00 in a research note on Friday, September 16th. Rafferty Capital Markets downgraded Wells Fargo & Co. from a hold rating to a sell rating and set a $44.00 target price for the company. in a research note on Friday, September 9th. Zacks Investment Research upgraded Wells Fargo & Co. from a sell rating to a hold rating in a research note on Monday, July 4th. Sandler O’Neill reiterated a hold rating on shares of Wells Fargo & Co. in a research note on Friday, September 30th. Finally, Raymond James Financial Inc. downgraded Wells Fargo & Co. from a market perform rating to an underperform rating in a research note on Tuesday, October 4th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $49.73.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 44.72 on Monday. The firm has a 50-day moving average price of $46.61 and a 200-day moving average price of $48.03. The company has a market capitalization of $225.64 billion, a PE ratio of 11.04 and a beta of 0.91. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last issued its earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The company earned $22.30 billion during the quarter. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current year.

In other news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Laurel Grove Capital LLC increased its stake in shares of Wells Fargo & Co. by 6.5% in the third quarter. Laurel Grove Capital LLC now owns 68,385 shares of the financial services provider’s stock valued at $3,028,000 after buying an additional 4,184 shares during the period. CWM LLC increased its stake in shares of Wells Fargo & Co. by 10.8% in the third quarter. CWM LLC now owns 181,721 shares of the financial services provider’s stock valued at $8,047,000 after buying an additional 17,701 shares during the period. Northwest Investment Counselors LLC increased its stake in shares of Wells Fargo & Co. by 2.2% in the third quarter. Northwest Investment Counselors LLC now owns 43,906 shares of the financial services provider’s stock valued at $1,944,000 after buying an additional 952 shares during the period. Sageworth Trust Co bought a new stake in shares of Wells Fargo & Co. during the third quarter valued at approximately $766,000. Finally, BLB&B Advisors LLC increased its stake in shares of Wells Fargo & Co. by 25.1% in the third quarter. BLB&B Advisors LLC now owns 67,596 shares of the financial services provider’s stock valued at $2,993,000 after buying an additional 13,568 shares during the period. 73.94% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Co. Company Profile

Related posts

Leave a Comment