Wells Fargo & Company (NYSE:WFC) Cut to “Sell” at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen downgraded shares of Wells Fargo & Company (NYSE:WFC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
Other equities analysts have also issued reports about the company. Wolfe Research reissued an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a report on Friday, February 13th. UBS Group reissued a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Barclays decreased their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, TD Cowen decreased their price objective on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.75.
Check Out Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.5%
NYSE:WFC opened at $80.62 on Friday. The firm has a market capitalization of $248.77 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. The stock has a 50 day moving average of $81.21 and a 200-day moving average of $86.18. Wells Fargo & Company has a 52 week low of $68.67 and a 52 week high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. Analysts predict that Wells Fargo & Company will post 6.82 EPS for the current year.
Insider Buying and Selling
In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock valued at $10,050,000 in the last three months. 0.14% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Wells Fargo & Company
Institutional investors have recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Company Profile
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.