Wells Fargo & Co. (NYSE:WFC) was downgraded by investment analysts at Citigroup Inc. to an “underperform” rating in a report issued on Friday.

WFC has been the topic of several other reports. JPMorgan Chase & Co. downgraded Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $53.50 to $48.00 in a research note on Wednesday, September 21st. Macquarie restated an “underperform” rating on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $57.00 target price on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Argus restated a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, October 13th. Finally, Bank of America Corp. set a $50.00 target price on Wells Fargo & Co. and gave the stock a “buy” rating in a research note on Monday, September 19th. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Wells Fargo & Co. has an average 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 52.12 on Friday. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $56.24. The company has a market cap of $261.76 billion, a P/E ratio of 12.93 and a beta of 0.93. The stock has a 50 day moving average price of $46.89 and a 200 day moving average price of $47.79.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly 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 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 company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 annualized dividend and a dividend yield of 2.92%. Wells Fargo & Co.’s dividend payout ratio is currently 37.44%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parnassus Investments CA boosted 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. boosted 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. boosted 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 boosted 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, Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Co. by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock valued at $1,169,680,000 after buying an additional 2,987,795 shares during the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

About Wells Fargo & Co.

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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