Oppenheimer Sticks to Their Hold Rating for Wells Fargo (WFC)

In a report issued on July 2, Chris Kotowski from Oppenheimer maintained a Hold rating on Wells Fargo (WFCResearch Report). The company’s shares closed last Thursday at $25.34, close to its 52-week low of $22.00.

According to TipRanks.com, Kotowski is a 4-star analyst with an average return of 5.2% and a 57.9% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, JPMorgan Chase & Co., and New Mountain Finance.

Wells Fargo has an analyst consensus of Hold, with a price target consensus of $29.86, implying a 16.0% upside from current levels. In a report issued on July 2, Piper Sandler also maintained a Hold rating on the stock with a $29.00 price target.

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Based on Wells Fargo’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $17.72 billion and net profit of $653 million. In comparison, last year the company earned revenue of $21.61 billion and had a net profit of $5.86 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.