Wells Fargo & Co. (NYSE:WFC) had its price target upped by investment analysts at Deutsche Bank AG from $49.00 to $60.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 13.38% from the company’s previous close.

Other analysts have also issued research reports about the company. Jefferies Group lowered Wells Fargo & Co. from a “buy” rating to a “hold” rating in a report on Monday. Vetr raised Wells Fargo & Co. from a “strong sell” rating to a “sell” rating and set a $46.16 price target for the company in a report on Wednesday, November 16th. BMO Capital Markets lowered Wells Fargo & Co. from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $43.55 to $47.00 in a report on Friday, November 18th. They noted that the move was a valuation call. Barclays PLC reissued an “outperform” rating and set a $56.00 price target (down previously from $58.00) on shares of Wells Fargo & Co. in a report on Tuesday, October 18th. Finally, Sandler O’Neill reissued a “hold” rating on shares of Wells Fargo & Co. in a report on Friday, September 9th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $49.90.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 2.04% during trading on Wednesday, hitting $52.92. The stock had a trading volume of 26,549,819 shares. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.24. The company has a market cap of $265.78 billion, a PE ratio of 13.13 and a beta of 0.93. The stock has a 50 day moving average of $47.82 and a 200 day moving average of $47.86.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data 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. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The company earned $22.30 billion during the quarter. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be issued 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 2.87%. Wells Fargo & Co.’s dividend payout ratio is presently 37.44%.

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Hedge funds have recently modified their holdings of the stock. 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 in the last quarter. Vanguard Group Inc. raised its position 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 worth $13,632,368,000 after buying an additional 6,247,583 shares during the period. Ruane Cunniff & Goldfarb Inc. raised its position 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 worth $248,132,000 after buying an additional 5,150,302 shares during the period. Dimensional Fund Advisors LP raised its position 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 worth $1,169,680,000 after buying an additional 2,987,795 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of Wells Fargo & Co. by 76.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,742,003 shares of the financial services provider’s stock worth $319,099,000 after buying an additional 2,931,875 shares during the period. Hedge funds and other institutional investors own 72.76% 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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