Piper Jaffray Cos. reaffirmed their underweight rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research report report published on Thursday. The brokerage currently has a $43.00 price objective on the financial services provider’s stock.

WFC has been the subject of a number of other research reports. Vetr cut Wells Fargo & Co. from a hold rating to a sell rating and set a $46.32 price target for the company. in a report on Tuesday, August 30th. Citigroup Inc. reiterated an outperform rating and set a $50.00 price target (down previously from $56.00) on shares of Wells Fargo & Co. in a report on Monday, September 26th. Zacks Investment Research cut Wells Fargo & Co. from a hold rating to a sell rating in a report on Thursday, September 29th. Deutsche Bank AG reiterated a buy rating and set a $50.00 price target (down previously from $59.00) on shares of Wells Fargo & Co. in a report on Friday, September 16th. Finally, Sandler O’Neill reiterated a hold rating on shares of Wells Fargo & Co. in a report on Friday, September 30th. 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 company’s stock. Wells Fargo & Co. currently has an average rating of Hold and an average price target of $50.35.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.1995% during trading on Thursday, hitting $44.6607. The stock had a trading volume of 18,304,965 shares. The stock’s 50-day moving average is $46.82 and its 200-day moving average is $48.09. Wells Fargo & Co. has a 12-month low of $43.55 and a 12-month high of $56.34. The stock has a market capitalization of $225.34 billion, a P/E ratio of 11.0273 and a beta of 0.91.

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

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC purchased a new position in Wells Fargo & Co. during the first quarter worth $93,093,000. Global X Management Co. LLC raised its position in shares of 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 in the last quarter. Brick & Kyle Associates raised its position in shares of 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 in the last quarter. Tradewinds Capital Management LLC raised its position in shares of 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 in the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of 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 in the last quarter. 73.98% of the stock is owned by institutional investors and hedge funds.

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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