Keefe Bruyette Issues a Upgrade for Wells Fargo (NYSE:WFC) from a Mkt Perform to Outperform Rating

July 16, 2018 - By Lisa Delgado

Wells Fargo & Company (NYSE:WFC) Logo

Investors sentiment decreased to 0.59 in 2018 Q1. Its down 0.16, from 0.75 in 2017Q4. It fall, as 108 investors sold Wells Fargo & Company shares while 790 reduced holdings. 122 funds opened positions while 412 raised stakes. 3.62 billion shares or 0.62% less from 3.64 billion shares in 2017Q4 were reported.

Principal Finance Gru has invested 0.36% in Wells Fargo & Company (NYSE:WFC). Westpac has 538,841 shares for 0% of their portfolio. Shelton Cap Management holds 1.46M shares or 5.01% of its portfolio. Cobblestone Advisors Ltd Liability Company Ny holds 0.1% or 18,669 shares. New Jersey Better Educational Savings Trust holds 21,000 shares. Lincoln Natl Corporation holds 0.04% or 20,797 shares in its portfolio. Strategic Wealth Advsr Grp Limited Co reported 141,422 shares. Van Eck Associate invested in 627,120 shares or 0.16% of the stock. First Quadrant L P Ca accumulated 361,686 shares. Security Tru stated it has 0.56% in Wells Fargo & Company (NYSE:WFC). Utd Service Automobile Association has invested 0.33% in Wells Fargo & Company (NYSE:WFC). Indexiq Advsrs Ltd Liability Company holds 0.14% or 84,954 shares. 27,200 are held by Caprock Gru. Hallmark Cap Management has 290,703 shares. Boston Management invested in 5,705 shares.

Since May 24, 2018, it had 0 insider purchases, and 1 sale for $1.40 million activity.

Wells Fargo (NYSE:WFC) Stock Upgrade

Wells Fargo (NYSE:WFC)‘s stock was upgraded to a solid Outperform by equity analysts at Keefe Bruyette. WFC’s past Mkt Perform rating is has been discontinued by the brokerage firm.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 20 analysts covering Wells Fargo (NYSE:WFC), 10 have Buy rating, 3 Sell and 7 Hold. Therefore 50% are positive. Wells Fargo has $76 highest and $5400 lowest target. $63.03’s average target is 11.30% above currents $56.63 stock price. Wells Fargo had 32 analyst reports since February 2, 2018 according to SRatingsIntel. Morgan Stanley upgraded Wells Fargo & Company (NYSE:WFC) on Monday, July 2 to “Equal-Weight” rating. The company was downgraded on Monday, February 5 by Keefe Bruyette & Woods. As per Monday, February 5, the company rating was downgraded by J.P. Morgan. Morgan Stanley maintained it with “Underweight” rating and $60 target in Monday, April 16 report. The stock of Wells Fargo & Company (NYSE:WFC) has “Hold” rating given on Monday, April 23 by Susquehanna. On Thursday, April 5 the stock rating was upgraded by UBS to “Buy”. BMO Capital Markets maintained the shares of WFC in report on Friday, April 13 with “Hold” rating. The company was downgraded on Monday, February 5 by JP Morgan. The stock has “Buy” rating by Bank of America on Monday, February 5. Buckingham Research maintained the stock with “Buy” rating in Monday, April 16 report.

The stock increased 2.29% or $1.27 during the last trading session, reaching $56.63. About 12.28 million shares traded. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since July 16, 2017 and is uptrending. It has underperformed by 8.55% the S&P500.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $274.60 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 14.05 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Benzinga.com which released: “KBW Upgrades Wells Fargo Despite Q2 Miss, Says Valuation ‘Compelling'” on July 16, 2018, also Seekingalpha.com with their article: “Wells Fargo: Punished Enough?” published on July 03, 2018, Finance.Yahoo.com published: “Is Wells Fargo Stock Worth Buying Ahead of Earnings?” on July 13, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Benzinga.com and their article: “Round Two Of Bank Earnings Coming Up With Bank of America, Goldman Sachs And Morgan Stanley” published on July 16, 2018 as well as Streetinsider.com‘s news article titled: “Wells Fargo (WFC) PT Lowered to $63 at Macquarie” with publication date: July 16, 2018.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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