Wells Fargo & Co. (NYSE:WFC) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Monday.

WFC has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $53.50 to $48.00 in a report on Wednesday, September 21st. Macquarie reissued an “underperform” rating on shares of Wells Fargo & Co. in a research report on Tuesday, October 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $57.00 price target on shares of Wells Fargo & Co. in a research report on Friday, September 9th. Argus reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, October 13th. Finally, Citigroup Inc. cut Wells Fargo & Co. to an “underperform” rating in a research report on Friday, November 18th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.57.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.48% on Monday, reaching $51.83. The company’s stock had a trading volume of 13,410,944 shares. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $56.24. The firm has a market cap of $260.31 billion, a price-to-earnings ratio of 12.86 and a beta of 0.93. The company’s 50 day moving average is $47.82 and its 200-day moving average is $47.86.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The business 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. Equities research analysts expect that Wells Fargo & Co. will post $4.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.’s payout ratio is 37.44%.

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Hedge funds have recently modified their holdings of the stock. AMP Capital Investors Ltd raised its stake in shares of Wells Fargo & Co. by 0.9% in the first quarter. AMP Capital Investors Ltd now owns 2,665,156 shares of the financial services provider’s stock worth $129,659,000 after buying an additional 23,048 shares during the last quarter. Sather Financial Group Inc raised its stake in shares of Wells Fargo & Co. by 9.2% in the first quarter. Sather Financial Group Inc now owns 101,249 shares of the financial services provider’s stock worth $4,896,000 after buying an additional 8,497 shares during the last quarter. National Pension Service raised its stake in shares of Wells Fargo & Co. by 4.2% in the first quarter. National Pension Service now owns 2,441,956 shares of the financial services provider’s stock worth $118,093,000 after buying an additional 98,655 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Wells Fargo & Co. by 5.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,803,238 shares of the financial services provider’s stock worth $329,005,000 after buying an additional 325,900 shares during the last quarter. Finally, Allen Investment Management LLC raised its stake in shares of Wells Fargo & Co. by 10.0% in the first quarter. Allen Investment Management LLC now owns 24,288 shares of the financial services provider’s stock worth $1,175,000 after buying an additional 2,198 shares during the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

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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