Wells Fargo & Co. (NYSE:WFC) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Wednesday. They presently have a $45.66 price objective on the financial services provider’s stock. Vetr‘s target price would indicate a potential downside of 11.56% from the stock’s current price.

WFC has been the subject of several other reports. JPMorgan Chase & Co. downgraded shares of Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.50 to $48.00 in a research note on Wednesday, September 21st. Macquarie restated an “underperform” rating on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $57.00 target price on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Argus restated a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, October 13th. Finally, Bank of America Corp. set a $50.00 target price on shares of Wells Fargo & Co. and gave the company a “buy” rating in a research note on Monday, September 19th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.52.

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

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 51.63 on Wednesday. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $56.26. The firm has a market capitalization of $259.30 billion, a price-to-earnings ratio of 12.81 and a beta of 0.93. The company’s 50-day moving average is $45.47 and its 200 day moving average is $47.71.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data 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. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The company earned $22.30 billion during the quarter. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Wells Fargo & Co.’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 annualized dividend and a yield of 2.94%. Wells Fargo & Co.’s dividend payout ratio is presently 37.44%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFC. Sun Life Financial INC bought a new position in Wells Fargo & Co. during the first quarter valued at $93,093,000. Global X Management Co. LLC raised 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 valued at $109,000 after buying an additional 905 shares in the last quarter. Integrated Wealth Counsel LLC increased its stake in Wells Fargo & Co. by 17.8% in the third quarter. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider’s stock valued at $107,000 after buying an additional 363 shares in the last quarter. Coconut Grove Bank increased its stake in Wells Fargo & Co. by 54.9% in the third quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider’s stock valued at $112,000 after buying an additional 900 shares in the last quarter. Finally, Timber Creek Capital Management LLC increased its stake in Wells Fargo & Co. by 30.0% in the third quarter. Timber Creek Capital Management LLC now owns 3,033 shares of the financial services provider’s stock valued at $134,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 74.25% 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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