Evercore ISI restated their buy rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note published on Thursday. Evercore ISI currently has a $51.00 price objective on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Deutsche Bank AG reiterated a buy rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Nomura reissued a buy rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Barclays PLC reissued a buy rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Argus reissued a buy rating on shares of Wells Fargo & Co. in a research note on Thursday. Finally, Keefe, Bruyette & Woods set a $57.00 price objective on shares of Wells Fargo & Co. and gave the stock a buy rating in a research note on Thursday. Seven equities research 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 currently has an average rating of Hold and an average price target of $50.35.

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.1995% during mid-day trading on Thursday, reaching $44.6607. The company had a trading volume of 18,304,965 shares. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34. The firm has a market capitalization of $225.34 billion, a price-to-earnings ratio of 11.0273 and a beta of 0.91. The stock has a 50 day moving average of $46.82 and a 200-day moving average of $48.09.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The company earned $22.30 billion during the quarter, compared to the consensus estimate of $22.22 billion. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. Equities analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current year.

In other news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Parnassus Investments CA boosted its stake in Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock valued at $579,330,000 after buying an additional 10,990,229 shares during the period. Vanguard Group Inc. boosted its stake in Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares during the period. Ruane Cunniff & Goldfarb Inc. boosted its stake in Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock valued at $248,132,000 after buying an additional 5,150,302 shares during the period. BlackRock Fund Advisors boosted its stake in Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock valued at $2,804,161,000 after buying an additional 4,695,036 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock valued at $6,348,262,000 after buying an additional 3,450,553 shares during the period. Hedge funds and other institutional investors own 73.98% of the company’s stock.

About Wells Fargo & Co.

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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