Wells Fargo & Co. (NYSE:WFC) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They currently have a $53.22 price target on the financial services provider’s stock, up from their prior price target of $43.55. Guggenheim’s target price would indicate a potential upside of 2.98% from the stock’s previous close.

Several other brokerages also recently issued reports on WFC. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research note on Wednesday, August 31st. Vetr downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a research note on Tuesday, August 30th. Zacks Investment Research upgraded shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research note on Monday, September 5th. Rafferty Capital Markets downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Friday, September 9th. Finally, Sandler O’Neill reiterated a “hold” rating on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.66.

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

Wells Fargo & Co. (NYSE:WFC) opened at 51.68 on Tuesday. The firm has a market cap of $259.55 billion, a P/E ratio of 12.82 and a beta of 0.93. The firm’s 50-day moving average price is $46.24 and its 200-day moving average price is $47.74. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.26.

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, topping the Zacks’ consensus estimate of $1.01 by $0.02. The business had revenue of $22.30 billion for the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. 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 posted $1.05 EPS. On average, equities research analysts expect 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. Investors of record on Friday, November 4th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 2.94%. Wells Fargo & Co.’s payout ratio is 37.44%.

Large investors have recently made changes to their positions in the stock. CIBC World Markets Inc. increased 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 period. 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 increased 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 period. Mason Street Advisors LLC acquired a new position in Wells Fargo & Co. during the second quarter worth approximately $29,454,000. Finally, Lazard Asset Management LLC increased 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 period. Institutional investors own 73.78% 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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