Breaking: Morgan Stanley Reconfirms $60 PT On Wells Fargo (NYSE:WFC) Shares, Reconfirms Their Original “Underweight” Rating

April 17, 2018 - By Michael Collier

Wells Fargo & Company (NYSE:WFC) Logo

Investors sentiment increased to 0.75 in 2017 Q4. Its up 0.02, from 0.73 in 2017Q3. It improved, as 63 investors sold Wells Fargo & Company shares while 746 reduced holdings. 138 funds opened positions while 466 raised stakes. 3.64 billion shares or 0.11% less from 3.65 billion shares in 2017Q3 were reported.

The Illinois-based Gru One Trading Lp has invested 0.11% in Wells Fargo & Company (NYSE:WFC). Gateway Inv Advisers Ltd Liability Corp has 2.46M shares. Polar Asset Incorporated has 1.20 million shares for 1.15% of their portfolio. 16,523 were reported by Altfest L J Co. Pioneer Trust Bank & Trust N A Or has invested 2.37% in Wells Fargo & Company (NYSE:WFC). Moreover, Butensky And Cohen Finance Security Inc has 2.05% invested in Wells Fargo & Company (NYSE:WFC) for 40,855 shares. 1.36M were accumulated by Fifth Third Natl Bank. The United Kingdom-based Gulf Intl Bankshares (Uk) Limited has invested 1.15% in Wells Fargo & Company (NYSE:WFC). Rosenbaum Jay D reported 13,075 shares. Cardinal Management stated it has 273,335 shares. Zeke Capital Advisors Ltd Liability Corp holds 0.84% in Wells Fargo & Company (NYSE:WFC) or 131,921 shares. 151,939 are held by Channing Mngmt Ltd Company. Halsey Assocs Ct accumulated 0.1% or 9,501 shares. West Oak Cap Ltd Co reported 1.32% stake. 35,617 were reported by Fort Point Cap Partners Ltd Liability Corp.

Since November 17, 2017, it had 0 buys, and 1 insider sale for $292,234 activity.

Wells Fargo (NYSE:WFC) Rating Reaffirmed

Recently, In analysts note issued to investors and clients on Monday morning, Wells Fargo (NYSE:WFC) shares have had their “Underweight” Rating reiterated by research professionals at Morgan Stanley, who currently has a $60 TP on company. This target by Morgan Stanley would suggest the possibile upside of 17.49 % from the last stock price.

Investors sentiment increased to 0.75 in 2017 Q4. Its up 0.02, from 0.73 in 2017Q3. It improved, as 63 investors sold Wells Fargo & Company shares while 746 reduced holdings. 138 funds opened positions while 466 raised stakes. 3.64 billion shares or 0.11% less from 3.65 billion shares in 2017Q3 were reported.

The Illinois-based Gru One Trading Lp has invested 0.11% in Wells Fargo & Company (NYSE:WFC). Gateway Inv Advisers Ltd Liability Corp has 2.46M shares. Polar Asset Incorporated has 1.20 million shares for 1.15% of their portfolio. 16,523 were reported by Altfest L J Co. Pioneer Trust Bank & Trust N A Or has invested 2.37% in Wells Fargo & Company (NYSE:WFC). Moreover, Butensky And Cohen Finance Security Inc has 2.05% invested in Wells Fargo & Company (NYSE:WFC) for 40,855 shares. 1.36M were accumulated by Fifth Third Natl Bank. The United Kingdom-based Gulf Intl Bankshares (Uk) Limited has invested 1.15% in Wells Fargo & Company (NYSE:WFC). Rosenbaum Jay D reported 13,075 shares. Cardinal Management stated it has 273,335 shares. Zeke Capital Advisors Ltd Liability Corp holds 0.84% in Wells Fargo & Company (NYSE:WFC) or 131,921 shares. 151,939 are held by Channing Mngmt Ltd Company. Halsey Assocs Ct accumulated 0.1% or 9,501 shares. West Oak Cap Ltd Co reported 1.32% stake. 35,617 were reported by Fort Point Cap Partners Ltd Liability Corp.

Since November 17, 2017, it had 0 buys, and 1 insider sale for $292,234 activity.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 23 analysts covering Wells Fargo (NYSE:WFC), 11 have Buy rating, 4 Sell and 8 Hold. Therefore 48% are positive. Wells Fargo has $76 highest and $5400 lowest target. $62.82’s average target is 23.01% above currents $51.07 stock price. Wells Fargo had 44 analyst reports since November 10, 2017 according to SRatingsIntel. RBC Capital Markets maintained Wells Fargo & Company (NYSE:WFC) rating on Friday, January 12. RBC Capital Markets has “Buy” rating and $65.0 target. J.P. Morgan downgraded Wells Fargo & Company (NYSE:WFC) on Monday, February 5 to “Sell” rating. On Sunday, April 15 the stock rating was maintained by Piper Jaffray with “Hold”. Atlantic Securities upgraded the shares of WFC in report on Wednesday, January 10 to “Neutral” rating. As per Monday, November 13, the company rating was maintained by RBC Capital Markets. The stock of Wells Fargo & Company (NYSE:WFC) has “Hold” rating given on Sunday, February 4 by BMO Capital Markets. The rating was maintained by Robert W. Baird on Monday, March 26 with “Buy”. The firm has “Buy” rating by Robert W. Baird given on Friday, November 10. Bernstein upgraded the stock to “Outperform” rating in Wednesday, January 3 report. The firm has “Hold” rating by BMO Capital Markets given on Thursday, January 4.

The stock increased 0.53% or $0.27 during the last trading session, reaching $51.07. About 10.67M shares traded. Wells Fargo & Company (NYSE:WFC) has declined 7.75% since April 17, 2017 and is downtrending. It has underperformed by 19.30% the S&P500.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $248.91 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 12.19 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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