Wells Fargo (WFC) Receives a Hold from Oppenheimer


Oppenheimer analyst Chris Kotowski maintained a Hold rating on Wells Fargo (WFC) today. The company’s shares closed last Thursday at $34.75.

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 12.8% and a 68.1% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, New Mountain Finance, and Solar Senior Capital.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wells Fargo with a $34.23 average price target, representing a -1.5% downside. In a report issued on January 4, Barclays also maintained a Hold rating on the stock with a $36.00 price target.

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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 $18.86 billion and net profit of $2.04 billion. In comparison, last year the company earned revenue of $22.01 billion and had a net profit of $4.61 billion.

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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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