Wells Fargo & Co (NYSE:WFC) has been given a $44.00 target price by equities researchers at Deutsche Bank in a note issued to investors on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price target suggests a potential downside of 10.75% from the company’s previous close.

Several other analysts have also commented on the company. Macquarie set a €13.00 ($15.12) price target on Deutsche Telekom and gave the company a “sell” rating in a research note on Wednesday, July 17th. Bank of America reaffirmed a “hold” rating and issued a $212.00 price target on shares of Goldman Sachs Group in a research note on Monday, April 15th. Raymond James reaffirmed a “hold” rating on shares of Wells Fargo & Co in a research note on Friday, April 12th. UBS Group decreased their price target on Wells Fargo & Co from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, BMO Capital Markets decreased their price target on Wells Fargo & Co to $59.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $51.12.

Shares of NYSE:WFC traded up $1.21 during trading on Friday, hitting $49.30. 21,641,463 shares of the stock were exchanged, compared to its average volume of 18,215,316. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $59.53. The stock has a market capitalization of $221.57 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a fifty day moving average price of $46.67. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.36.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.14. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.95 billion. During the same quarter last year, the firm earned $0.98 EPS. Wells Fargo & Co’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Co will post 4.8 earnings per share for the current year.

Wells Fargo & Co declared that its Board of Directors has initiated a stock buyback plan on Thursday, June 27th that allows the company to repurchase $23.10 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of Wells Fargo & Co stock in a transaction on Monday, May 13th. The stock was sold at an average price of $46.51, for a total value of $1,316,419.04. Following the completion of the transaction, the insider now owns 3,066 shares in the company, valued at approximately $142,599.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Harrington Investments INC bought a new position in Wells Fargo & Co in the 1st quarter valued at $203,000. Commonwealth Bank of Australia raised its position in Wells Fargo & Co by 12.8% in the 4th quarter. Commonwealth Bank of Australia now owns 873,051 shares of the financial services provider’s stock valued at $40,225,000 after purchasing an additional 99,250 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Wells Fargo & Co by 72.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 34,115 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 14,291 shares during the last quarter. LaFleur & Godfrey LLC raised its position in Wells Fargo & Co by 31.8% in the 1st quarter. LaFleur & Godfrey LLC now owns 14,920 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC raised its position in Wells Fargo & Co by 14.1% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 42,282 shares of the financial services provider’s stock valued at $1,948,000 after purchasing an additional 5,235 shares during the last quarter. Hedge funds and other institutional investors own 75.38% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Analyst Recommendations for Wells Fargo & Co (NYSE:WFC)

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