Wells Fargo & Co. (NYSE:WFC) was upgraded by research analysts at Vetr from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday. The firm presently has a $46.16 price target on the financial services provider’s stock. Vetr‘s price objective points to a potential downside of 12.06% from the company’s current price.

A number of other analysts have also recently commented on WFC. Guggenheim cut shares of Wells Fargo & Co. from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $43.55 to $53.22 in a research note on Tuesday. Citigroup Inc. reissued a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, November 10th. Evercore ISI reissued a “buy” rating and set a $51.00 target price on shares of Wells Fargo & Co. in a research note on Sunday, October 23rd. FBR & Co cut shares of Wells Fargo & Co. from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $50.00 to $45.00 in a research note on Wednesday, October 19th. Finally, Macquarie restated an “underperform” rating on shares of Wells Fargo & Co. in a research report on Tuesday, October 18th. Seven investment analysts have rated the stock with a sell rating, ten have given 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 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 Wednesday. The stock has a market capitalization of $263.62 billion, a price-to-earnings ratio of 13.02 and a beta of 0.93. The company has a 50-day moving average of $46.24 and a 200-day moving average of $47.74. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.26.

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 for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Co. will post $4.03 EPS for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cypress Wealth Advisors LLC boosted its position in shares of Wells Fargo & Co. by 39.1% in the first quarter. Cypress Wealth Advisors LLC now owns 15,604 shares of the financial services provider’s stock valued at $755,000 after buying an additional 4,388 shares during the last quarter. Accredited Investors Inc. boosted its position in shares of Wells Fargo & Co. by 3.8% in the first quarter. Accredited Investors Inc. now owns 27,679 shares of the financial services provider’s stock valued at $1,339,000 after buying an additional 1,001 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Wells Fargo & Co. by 48.0% in the first quarter. Rafferty Asset Management LLC now owns 614,805 shares of the financial services provider’s stock valued at $29,732,000 after buying an additional 199,414 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of 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 valued at $317,445,000 after buying an additional 611,374 shares during the last quarter. Finally, Smith & Howard Wealth Management LLC boosted its position in shares of Wells Fargo & Co. by 25.1% in the first quarter. Smith & Howard Wealth Management LLC now owns 5,766 shares of the financial services provider’s stock valued at $279,000 after buying an additional 1,156 shares during the last quarter. Institutional investors and hedge funds 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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