Wells Fargo & Co. (NYSE:WFC) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Tuesday. They presently have a $44.75 target price on the financial services provider’s stock. Vetr‘s target price points to a potential downside of 0.53% from the company’s previous close.

Other analysts have also issued reports about the company. Nomura reissued a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research note on Sunday, June 26th. Drexel Hamilton reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, RBC Capital Markets reaffirmed a “buy” rating and issued a $54.00 price objective (down from $57.00) on shares of Wells Fargo & Co. in a research note on Tuesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Wells Fargo & Co. currently has a consensus rating of “Hold” and a consensus target price of $50.41.

Wells Fargo & Co. (NYSE:WFC) opened at 44.99 on Tuesday. The stock’s 50 day moving average price is $47.39 and its 200 day moving average price is $48.26. The firm has a market capitalization of $227.00 billion, a price-to-earnings ratio of 11.11 and a beta of 0.91. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $22.20 billion for the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of WFC. Fisher Asset Management LLC raised its stake in shares of Wells Fargo & Co. by 0.6% in the first quarter. Fisher Asset Management LLC now owns 19,102,039 shares of the financial services provider’s stock valued at $921,673,000 after buying an additional 110,621 shares during the last quarter. Vontobel Asset Management Inc. raised its stake in Wells Fargo & Co. by 13.6% in the first quarter. Vontobel Asset Management Inc. now owns 7,465,087 shares of the financial services provider’s stock worth $374,230,000 after buying an additional 892,762 shares during the last quarter. BLB&B Advisors LLC raised its stake in Wells Fargo & Co. by 9.1% in the first quarter. BLB&B Advisors LLC now owns 50,175 shares of the financial services provider’s stock worth $2,426,000 after buying an additional 4,197 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in Wells Fargo & Co. by 1.5% in the first quarter. Nicolet Bankshares Inc. now owns 51,446 shares of the financial services provider’s stock worth $2,488,000 after buying an additional 778 shares during the last quarter. Finally, Coastline Trust Co raised its stake in Wells Fargo & Co. by 3.5% in the first quarter. Coastline Trust Co now owns 49,802 shares of the financial services provider’s stock worth $2,409,000 after buying an additional 1,685 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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