Barclays PLC restated their overweight rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research report report published on Wednesday. The brokerage currently has a $58.00 price target on the financial services provider’s stock.

Several other equities research analysts have also recently commented on WFC. Nomura restated a buy rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Deutsche Bank AG restated a buy rating on shares of Wells Fargo & Co. in a research note on Sunday, June 26th. Zacks Investment Research cut Wells Fargo & Co. from a hold rating to a sell rating in a research note on Wednesday, June 15th. JPMorgan Chase & Co. reiterated a buy rating on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, Jefferies Group reiterated a buy rating and set a $53.00 price objective on shares of Wells Fargo & Co. in a research note on Thursday, July 7th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $50.41.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.32 on Wednesday. The firm has a market capitalization of $228.66 billion, a PE ratio of 11.19 and a beta of 0.91. The firm’s 50 day moving average is $46.94 and its 200-day moving average is $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 earnings results on Friday, July 15th. The financial services provider reported $1.01 EPS 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 return on equity of 12.95% and a net margin of 24.33%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, equities research analysts predict that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

In other news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. raised its position in Wells Fargo & Co. by 13.6% in the second quarter. CIBC World Markets Inc. now owns 784,944 shares of the financial services provider’s stock worth $37,151,000 after buying an additional 93,961 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new position in Wells Fargo & Co. during the second quarter worth approximately $15,118,000. Exxonmobil Investment Management Inc. TX raised its position in Wells Fargo & Co. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 1,195,917 shares of the financial services provider’s stock worth $56,603,000 after buying an additional 71,107 shares during the last quarter. Lazard Asset Management LLC raised its position in Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock worth $317,445,000 after buying an additional 611,374 shares during the last quarter. Finally, Aviva PLC raised its position in Wells Fargo & Co. by 0.7% in the first quarter. Aviva PLC now owns 3,065,051 shares of the financial services provider’s stock worth $148,226,000 after buying an additional 22,620 shares during the last quarter. 73.98% of the stock is owned by institutional investors.

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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