Wells Fargo & Co (WFC) Receives Hold Rating from Raymond James
WFC has been the subject of several other reports. ValuEngine upgraded Wells Fargo & Co from a sell rating to a hold rating in a research note on Friday, January 4th. Goldman Sachs Group cut Wells Fargo & Co from a buy rating to a neutral rating and reduced their price objective for the stock from $58.00 to $48.00 in a research note on Friday. Barclays reduced their price objective on Wells Fargo & Co from $66.00 to $64.00 and set an overweight rating for the company in a research note on Wednesday, January 2nd. Credit Suisse Group restated a hold rating and issued a $60.00 price objective on shares of Wells Fargo & Co in a research note on Friday, January 11th. Finally, Royal Bank of Canada upgraded Wells Fargo & Co from an underperform rating to a sector perform rating and set a $45.50 price objective for the company in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $56.45.
Shares of NYSE:WFC opened at $46.77 on Friday. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $59.53. The stock has a market capitalization of $232.86 billion, a PE ratio of 10.68, a PEG ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87.
Institutional investors have recently bought and sold shares of the stock. BlueMountain Capital Management LLC acquired a new stake in Wells Fargo & Co in the third quarter valued at approximately $1,940,000. Vident Investment Advisory LLC acquired a new stake in Wells Fargo & Co in the third quarter valued at approximately $207,000. GFS Advisors LLC grew its holdings in Wells Fargo & Co by 1.4% in the third quarter. GFS Advisors LLC now owns 171,749 shares of the financial services provider’s stock valued at $9,027,000 after purchasing an additional 2,325 shares during the period. HPM Partners LLC grew its holdings in Wells Fargo & Co by 2.2% in the third quarter. HPM Partners LLC now owns 73,697 shares of the financial services provider’s stock valued at $3,874,000 after purchasing an additional 1,613 shares during the period. Finally, HRT Financial LLC grew its holdings in Wells Fargo & Co by 17.9% in the third quarter. HRT Financial LLC now owns 13,300 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 2,024 shares during the period. 72.22% of the stock is currently owned by hedge funds and other institutional investors.
About Wells Fargo & Co
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.
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