Wells Fargo Gets a Hold Rating from BMO Capital


In a report released yesterday, James Fotheringham from BMO Capital reiterated a Hold rating on Wells Fargo (NYSE: WFC), with a price target of $61. The company’s shares closed yesterday at $55.36.

According to TipRanks.com, Fotheringham is a 5-star analyst with an average return of 16.5% and a 80.3% success rate. Fotheringham covers the Financial sector, focusing on stocks such as Discover Financial Services, Goldman Sachs Group Inc, and Credit Acceptance Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wells Fargo with a $63.18 average price target, implying a 14.1% upside from current levels. In a report issued on July 2, Morgan Stanley also upgraded the stock to Hold with a $62 price target.

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Wells Fargo’s market cap is currently $269.8B and has a P/E ratio of 13.74. The company has a Price to Book ratio of 1.51.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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