Wells Fargo & Co. (NYSE:WFC) was downgraded by analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report issued on Friday.

Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reissued a “buy” rating and set a $50.00 target price (down from $59.00) on shares of Wells Fargo & Co. in a research report on Friday, September 16th. Vetr raised shares of Wells Fargo & Co. from a “hold” rating to a “buy” rating and set a $50.19 target price on the stock in a research report on Wednesday, July 27th. Bank of America Corp. set a $50.00 target price on shares of Wells Fargo & Co. and gave the stock a “buy” rating in a research report on Monday, September 19th. Credit Suisse Group AG lowered their target price on shares of Wells Fargo & Co. from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $56.00 target price on shares of Wells Fargo & Co. in a research report on Friday, September 23rd. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.66.

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

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 52.49 on Friday. The company has a 50-day moving average price of $46.44 and a 200 day moving average price of $47.77. The company has a market capitalization of $263.62 billion, a price-to-earnings ratio of 13.02 and a beta of 0.93. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.26.

Wells Fargo & Co. (NYSE:WFC) last posted its earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm 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%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. On average, analysts forecast that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, November 2nd. Wells Fargo & Co.’s dividend payout ratio is presently 37.44%.

A number of hedge funds have recently added to or reduced their stakes in WFC. Baker Avenue Asset Management LP raised its stake in Wells Fargo & Co. by 63.2% in the first quarter. Baker Avenue Asset Management LP now owns 136,519 shares of the financial services provider’s stock worth $6,602,000 after buying an additional 52,893 shares in the last quarter. NorthRock Partners LLC boosted its position in shares of Wells Fargo & Co. by 29.6% in the first quarter. NorthRock Partners LLC now owns 6,518 shares of the financial services provider’s stock worth $315,000 after buying an additional 1,489 shares in the last quarter. Parametric Risk Advisors LLC boosted its position in shares of Wells Fargo & Co. by 61.2% in the first quarter. Parametric Risk Advisors LLC now owns 238,851 shares of the financial services provider’s stock worth $11,551,000 after buying an additional 90,714 shares in the last quarter. Sentry Investments Corp. boosted its position in shares of Wells Fargo & Co. by 3.4% in the first quarter. Sentry Investments Corp. now owns 2,807,495 shares of the financial services provider’s stock worth $135,770,000 after buying an additional 92,000 shares in the last quarter. Finally, Crystal Rock Capital Management purchased a new position in shares of Wells Fargo & Co. during the first quarter worth $1,107,000. 73.78% of the stock is owned by hedge funds and other 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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