KBW analyst David Konrad maintained a Buy rating on Wells Fargo (WFC – Research Report) yesterday and set a price target of $56.00. The company’s shares closed yesterday at $52.04.
According to TipRanks, Konrad is a 5-star analyst with an average return of 20.0% and a 70.67% success rate. Konrad covers the Financial sector, focusing on stocks such as Truist Financial, KeyCorp, and Bank of America.
In addition to KBW, Wells Fargo also received a Buy from Citi’s Keith Horowitz in a report issued yesterday. However, on the same day, RBC Capital maintained a Hold rating on Wells Fargo (NYSE: WFC).
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Based on Wells Fargo’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $20.86 billion and a net profit of $5.77 billion. In comparison, last year the company earned a revenue of $19.57 billion and had a net profit of $3.59 billion
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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.
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