Raymond James analyst David Long reiterated a Buy rating on Wells Fargo (WFC) yesterday and set a price target of $42.00. The company’s shares closed last Tuesday at $37.14.
According to TipRanks.com, Long is a 2-star analyst with an average return of 0.5% and a 36.3% success rate. Long covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Enterprise Financial Services, and Old National Bancorp Capital.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wells Fargo with a $36.94 average price target.
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Wells Fargo’s market cap is currently $153.9B and has a P/E ratio of 90.20. The company has a Price to Book ratio of 1.18.
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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.
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