Wells Fargo & Co. (NYSE:WFC) was upgraded by equities researchers at Rafferty Capital Markets from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also commented on the stock. Evercore ISI reiterated a “buy” rating and set a $51.00 price objective on shares of Wells Fargo & Co. in a research report on Sunday, October 23rd. Citigroup Inc. reiterated a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, November 10th. 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. Raymond James Financial Inc. reissued a “market perform” rating on shares of Wells Fargo & Co. in a research note on Friday, September 23rd. Finally, Keefe, Bruyette & Woods set a $57.00 target price on shares of Wells Fargo & Co. and gave the company a “buy” rating in a research note on Thursday, October 13th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Wells Fargo & Co. has a consensus rating of “Hold” and a consensus price target of $49.56.

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

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 52.82 on Thursday. The stock’s 50 day moving average is $45.63 and its 200-day moving average is $47.72. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $56.26. The company has a market cap of $265.28 billion, a price-to-earnings ratio of 13.11 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ 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 business earned $22.30 billion during the quarter. During the same quarter last year, the business earned $1.05 EPS. Wells Fargo & Co.’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Co. will post $4.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.88%. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.’s payout ratio is presently 37.44%.

A number of large investors have recently modified their holdings of WFC. Parnassus Investments CA raised its stake in shares of Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock valued at $579,330,000 after buying an additional 10,990,229 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. raised its stake in shares of Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock valued at $248,132,000 after buying an additional 5,150,302 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock valued at $6,348,262,000 after buying an additional 3,450,553 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Wells Fargo & Co. by 20.5% in the first quarter. Primecap Management Co. CA now owns 18,501,167 shares of the financial services provider’s stock valued at $894,716,000 after buying an additional 3,149,895 shares during the last quarter. 73.78% of the stock is owned by 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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