Wells Fargo’s (WFC) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their hold rating on shares of Wells Fargo (NYSE:WFC) in a research note issued to investors on Thursday. They currently have a $57.00 price target on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on WFC. Vertical Group raised shares of Wells Fargo from a sell rating to a buy rating in a research note on Thursday, December 7th. Zacks Investment Research raised shares of Wells Fargo from a sell rating to a hold rating in a research note on Tuesday, December 19th. Buckingham Research raised shares of Wells Fargo from a neutral rating to a buy rating and lifted their target price for the stock from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Barclays boosted their price target on shares of Wells Fargo from $65.00 to $75.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Finally, Sanford C. Bernstein raised shares of Wells Fargo from a market perform rating to an outperform rating and boosted their price target for the company from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $62.31.

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WFC traded down $1.19 on Thursday, hitting $52.07. 11,765,145 shares of the company’s stock were exchanged, compared to its average volume of 22,804,484. Wells Fargo has a fifty-two week low of $49.27 and a fifty-two week high of $66.31. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The stock has a market cap of $258,081.95, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.13.

Wells Fargo (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same period last year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts anticipate that Wells Fargo will post 4.69 earnings per share for the current year.

Wells Fargo announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase 350,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In related news, Director Ronald Sargent acquired 9,000 shares of Wells Fargo stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the acquisition, the director now owns 81 shares in the company, valued at $4,534.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Highland Private Wealth Management increased its stake in Wells Fargo by 1.0% during the second quarter. Highland Private Wealth Management now owns 4,481 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 43 shares during the period. New England Private Wealth Advisors LLC increased its stake in Wells Fargo by 1.9% during the second quarter. New England Private Wealth Advisors LLC now owns 6,538 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 119 shares during the period. Courier Capital LLC increased its stake in Wells Fargo by 0.4% during the second quarter. Courier Capital LLC now owns 38,222 shares of the financial services provider’s stock worth $2,118,000 after purchasing an additional 137 shares during the period. Meridian Investment Counsel Inc. increased its stake in Wells Fargo by 1.1% during the second quarter. Meridian Investment Counsel Inc. now owns 17,895 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 200 shares during the period. Finally, Monetary Management Group Inc. increased its stake in Wells Fargo by 0.9% during the second quarter. Monetary Management Group Inc. now owns 23,023 shares of the financial services provider’s stock worth $1,276,000 after purchasing an additional 200 shares during the period. Institutional investors own 77.33% of the company’s stock.

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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.

Analyst Recommendations for Wells Fargo (NYSE:WFC)

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