Wells Fargo Receives a Buy from KBW

By Austin Angelo

KBW analyst Brian Kleinhanzl reiterated a Buy rating on Wells Fargo (NYSE: WFC) yesterday and set a price target of $62. The company’s shares closed yesterday at $52.38.

According to TipRanks.com, Kleinhanzl is a 2-star analyst with an average return of 1.9% and a 40.0% success rate. Kleinhanzl covers the Financial sector, focusing on stocks such as The First Of Long Island Corp, Discover Financial Services, and Dime Community Bancshares.

Currently, the analyst consensus on Wells Fargo is Moderate Buy and the average price target is $58.39, representing an 11.5% upside.

In a report issued on May 12, RBC Capital also reiterated a Buy rating on the stock with a $60 price target.

Based on Wells Fargo’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $25.77 billion and quarterly net profit of $5.46 billion. In comparison, last year the company earned revenue of $24.12 billion and had a net profit of $5.46 billion.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2017, Susan Engel, a Director at WFC bought 3,515 shares for a total of $209,951.

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.