Vetr cut shares of Wells Fargo & Co. (NYSE:WFC) from a sell rating to a strong sell rating in a report released on Thursday morning. They currently have $46.19 price objective on the financial services provider’s stock.

A number of other research analysts also recently commented on WFC. Barclays PLC restated an outperform rating and issued a $56.00 price target (down from $58.00) on shares of Wells Fargo & Co. in a research report on Tuesday, October 18th. FBR & Co downgraded Wells Fargo & Co. from an outperform rating to a market perform rating and lowered their price target for the stock from $50.00 to $45.00 in a research report on Wednesday, October 19th. Credit Agricole SA restated an outperform rating and issued a $57.00 price target on shares of Wells Fargo & Co. in a research report on Tuesday, September 20th. Piper Jaffray Cos. restated an underweight rating and issued a $43.00 price target on shares of Wells Fargo & Co. in a research report on Thursday, October 13th. Finally, Sandler O’Neill restated a hold rating on shares of Wells Fargo & Co. in a research report on Friday, September 9th. 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. Wells Fargo & Co. currently has a consensus rating of Hold and an average target price of $49.56.

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

Wells Fargo & Co. (NYSE:WFC) opened at 52.2452 on Thursday. The stock has a market capitalization of $262.39 billion, a P/E ratio of 12.9641 and a beta of 0.93. The firm’s 50-day moving average is $46.44 and its 200-day moving average is $47.77. 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 posted its earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. The firm earned $22.30 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. On average, equities analysts expect that Wells Fargo & Co. will post $4.03 earnings per share 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend 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%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Colony Group LLC boosted its position in shares of Wells Fargo & Co. by 20.1% in the third quarter. Colony Group LLC now owns 5,141 shares of the financial services provider’s stock worth $228,000 after buying an additional 860 shares in the last quarter. Garde Capital Inc. boosted its position in shares of Wells Fargo & Co. by 327.8% in the third quarter. Garde Capital Inc. now owns 22,244 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 17,044 shares in the last quarter. OLD Republic International Corp bought a new position in shares of Wells Fargo & Co. during the third quarter worth approximately $10,837,000. Notis McConarty Edward boosted its position in shares of Wells Fargo & Co. by 0.3% in the third quarter. Notis McConarty Edward now owns 29,826 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 100 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its position in shares of Wells Fargo & Co. by 10.5% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider’s stock worth $117,000 after buying an additional 247 shares in the last quarter. 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

Receive News & Stock Ratings for Wells Fargo & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co. and related stocks with our FREE daily email newsletter.