Wells Fargo & Company (NYSE:WFC) Given New $102.00 Price Target at UBS Group

Wells Fargo & Company (NYSE:WFC) had its target price decreased by investment analysts at UBS Group from $104.00 to $102.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 25.28% from the stock’s previous close.

Several other equities research analysts have also recently commented on WFC. Morgan Stanley upgraded shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $102.00 price target for the company in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $107.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America lifted their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.75.

Wells Fargo & Company Trading Up 1.2%

Shares of WFC stock traded up $0.96 on Monday, reaching $81.42. 12,759,942 shares of the stock were exchanged, compared to its average volume of 15,998,875. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a market cap of $246.20 billion, a PE ratio of 11.83, a P/E/G ratio of 0.87 and a beta of 0.96. The stock has a 50 day moving average price of $86.26 and a 200 day moving average price of $83.05.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 7.28 EPS for the current fiscal year.

Institutional Trading of Wells Fargo & Company

A number of large investors have recently bought and sold shares of the business. Capstone Financial Advisors Inc. boosted its holdings in shares of Wells Fargo & Company by 3.5% in the second quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider’s stock valued at $277,000 after buying an additional 113 shares during the period. MFA Wealth Services raised its holdings in shares of Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 115 shares during the period. Hidden Cove Wealth Management LLC lifted its position in Wells Fargo & Company by 1.8% in the 2nd quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 124 shares in the last quarter. Essex Bank lifted its position in Wells Fargo & Company by 0.8% in the 1st quarter. Essex Bank now owns 16,173 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 125 shares in the last quarter. Finally, Five Oceans Advisors boosted its stake in Wells Fargo & Company by 3.6% in the 2nd quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 125 shares during the period. 75.90% of the stock is owned by institutional investors.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Morgan Stanley upgraded WFC to Overweight from Equalweight and set a $102 price target. The firm believes easing net-interest-margin pressure, stronger fee income, improving Consumer returns and additional capital deployment can drive better earnings and shareholder returns. Morgan Stanley upgrades Wells Fargo & Company to Overweight from Equalweight
• Positive Sentiment: Morgan Stanley expects Wells Fargo to reach approximately 18% return on tangible common equity by 2028, with buybacks providing additional upside potential. The forecast suggests the bank’s returns could improve materially as regulatory constraints ease and management deploys excess capital. Wells Fargo Returns To Improve Through 2028 Amid Buyback Upside Potential
• Positive Sentiment: The upgrade follows a period of underperformance versus rival banks, supporting the view that WFC’s valuation may offer recovery potential if margins and operating returns improve. Wells Fargo has lagged rival banks. Morgan Stanley says it’s time to buy

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a diversified financial services company that provides banking, lending, investment, and wealth management services to individuals, businesses, institutions, and government entities. Its offerings include checking and savings accounts, credit cards, personal and commercial loans, mortgages, payment services, and other deposit and credit products.

The company also provides investment banking, capital markets, brokerage, advisory, asset management, and retirement services through its corporate and investment banking and wealth and investment management businesses.