Nomura analyst Bill Carcache maintained a Buy rating on Wells Fargo (WFC) today and set a price target of $31.00. The company’s shares closed last Tuesday at $30.01, close to its 52-week low of $25.11.
According to TipRanks.com, Carcache is a 5-star analyst with an average return of 11.9% and a 70.1% success rate. Carcache covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Huntington Bancshares.
Currently, the analyst consensus on Wells Fargo is a Hold with an average price target of $44.87.
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Wells Fargo’s market cap is currently $117.1B and has a P/E ratio of 6.50. The company has a Price to Book ratio of 0.85.
Based on the recent corporate insider activity of 35 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. Last month, John D. Baker, a Director at WFC bought 7,570 shares for a total of $240,120.
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.
Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.
