Credit Suisse Keeps a Hold Rating on Wells Fargo (WFC)

By Ryan Adsit

Credit Suisse analyst Susan Roth Katzke maintained a Hold rating on Wells Fargo (WFCResearch Report) yesterday and set a price target of $60. The company’s shares closed yesterday at $47.87.

According to TipRanks.com, Katzke is a 5-star analyst with an average return of 15.7% and a 67.8% success rate. Katzke covers the Financial sector, focusing on stocks such as Goldman Sachs Group Inc, State Street Corp, and Bank of America.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wells Fargo with a $59.38 average price target, which is a 24.0% upside from current levels. In a report issued on January 2, RBC Capital also upgraded the stock to Hold with a $48 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 $25.78 billion and net profit of $6.01 billion. In comparison, last year the company earned revenue of $25.51 billion and had a net profit of $6.15 billion.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WFC in relation to earlier this year. Most recently, in December 2018, John D. Baker, a Director at WFC bought 15,000 shares for a total of $320,288.

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.