Wells Fargo & Co. (NYSE:WFC)‘s stock had its “buy” rating reaffirmed by stock analysts at Argus in a research report issued on Thursday.

Several other research analysts have also recently weighed in on WFC. Zacks Investment Research cut shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & Co. in a report on Wednesday, June 15th. Vetr cut shares of Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price target on the stock. in a report on Wednesday, July 6th. Jefferies Group reissued a “buy” rating and issued a $53.00 price target on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.41.

Analyst Recommendations for Wells Fargo & Co. (NYSE:WFC)

Wells Fargo & Co. (NYSE:WFC) opened at 45.32 on Thursday. The firm has a market capitalization of $228.66 billion, a P/E ratio of 11.19 and a beta of 0.91. The stock has a 50 day moving average price of $46.94 and a 200 day moving average price of $48.11. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34.

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

In related news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the transaction, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC bought a new position in Wells Fargo & Co. during the first quarter worth $93,093,000. Global X Management Co. LLC boosted its position in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock worth $109,000 after buying an additional 905 shares during the last quarter. Brick & Kyle Associates boosted its position in Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock worth $152,000 after buying an additional 303 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock worth $154,000 after buying an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC boosted its position in Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,059 shares during the last quarter. Institutional investors and hedge funds 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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