Short Term Price Target on Wells Fargo & Company (WFC)

Wells Fargo & Company (NYSE:WFC) : 18 investment research analysts covering Wells Fargo & Company (NYSE:WFC) have an average price target of $56.56 for the near short term. The highest target price given by the Brokerage Firm to the stock is $64 and the lowest target is $44 for the short term. Analysts expect the variance to be within $5.65 of the average price.

Wells Fargo & Company has lost 1.21% in the last five trading days and dropped 7.2% in the last 4 weeks. Wells Fargo & Company has dropped 1.56% during the last 3-month period . Year-to-Date the stock performance stands at -11.59%. Also, Nomura maintains its view on Wells Fargo & Company (NYSE:WFC) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Nomura lowers the price target from $60 per share to $58 per share on Wells Fargo & Company. The rating by the firm was issued on April 25, 2016.

Wells Fargo & Company (NYSE:WFC) has an average broker rating of 2.04, which is interpreted as a Buy, as rated by 23 equity analysts. Nonetheless, 11 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 4 other analysts advise a Buy. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 4, which is also a Sell. 2 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Wells Fargo & Company (NYSE:WFC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.24 and $46.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.36. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.33, notching a gain of 0.77% for the day. The total traded volume was 22,538,811 . The stock had closed at $46.97 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Wells Fargo & Company/Mn, Pena Federico F had purchased shares worth of $4,208 in a transaction dated on March 11, 2016. A total of 085 shares were purchased at a price of $49.5 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Wells Fargo & Company is a financial services and bank holding company. The Companys segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Companys Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segments products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segments products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Companys Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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