In a report released on January 12, Gerard Cassidy from RBC Capital maintained a Hold rating on Wells Fargo (WFC – Research Report), with a price target of $52.00. The company’s shares closed last Friday at $47.40.
According to TipRanks, Cassidy is a top 100 analyst with an average return of 16.1% and a 63.21% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Bank of America, and PNC Financial.
In addition to RBC Capital, Wells Fargo also received a Hold from Deutsche Bank’s Matt O’Connor in a report issued on January 9. However, on January 12, Bank of America Securities reiterated a Buy rating on Wells Fargo (NYSE: WFC).
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The company has a one-year high of $50.77 and a one-year low of $34.40. Currently, Wells Fargo has an average volume of 16.99M.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WFC in relation to earlier this year.
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Wells Fargo (WFC) Company Description:
Founded in 1852, California-based Wells Fargo & Co. is a diversified financial services company, which is engaged in banking, insurance, investments, mortgage, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Read More on WFC:
- Boston Consulting Group: Banks Can Create $7T in Value
- Wells Fargo expects NII start to inflect towards end of 2024 into 2025
- Wells Fargo sees $700M in merit increases
- Wells Fargo continuing to de-risk, reduce exposure in commercial real estate
- Wells Fargo sees repurchasing more shares in 2024 vs. 2023
