Wells Fargo & Company (NYSE:WFC) Given New $95.50 Price Target at JPMorgan Chase & Co.

Wells Fargo & Company (NYSE:WFC) had its target price boosted by analysts at JPMorgan Chase & Co. from $93.50 to $95.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.03% from the company’s previous close.

A number of other analysts have also recently commented on the company. UBS Group cut their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Bank of America raised their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $2.38 on Wednesday, reaching $84.49. 7,923,074 shares of the stock were exchanged, compared to its average volume of 16,880,715. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $258.56 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.95 and a beta of 0.92. The business has a 50 day moving average price of $83.22 and a two-hundred day moving average price of $83.30.

Institutional Trading of Wells Fargo & Company

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Finally, Phillip James Consulting Co. acquired a new position in shares of Wells Fargo & Company during the first quarter worth about $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.