Raymond James Issues Pessimistic Forecast for Wells Fargo & Company (NYSE:WFC) Stock Price

Wells Fargo & Company (NYSE:WFC) had its target price decreased by equities research analysts at Raymond James from $88.00 to $78.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price target points to a potential upside of 20.77% from the stock’s current price.

Several other research analysts have also recently commented on WFC. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America decreased their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $64.58 on Monday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company’s fifty day simple moving average is $72.15 and its 200-day simple moving average is $70.97. The firm has a market cap of $210.87 billion, a PE ratio of 12.00, a P/E/G ratio of 1.18 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Institutional investors own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.