Vertical Group began coverage on shares of Wells Fargo & Company (NYSE:WFC) in a research report released on Friday, The Fly reports. The brokerage issued a sell rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Vetr raised Wells Fargo & to a strong-buy rating in a research report on Thursday, September 7th. Berenberg Bank downgraded Wells Fargo & from a hold rating to a sell rating and boosted their price target for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Deutsche Bank AG reissued a buy rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Robert W. Baird reissued a buy rating and set a $58.00 price target on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Zacks Investment Research raised Wells Fargo & from a sell rating to a hold rating in a research report on Monday, July 10th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wells Fargo & currently has an average rating of Hold and an average price target of $56.56.

Wells Fargo & (NYSE:WFC) opened at 55.14 on Friday. The firm has a market cap of $273.71 billion, a price-to-earnings ratio of 13.58 and a beta of 0.97. Wells Fargo & has a one year low of $44.28 and a one year high of $59.99. The stock’s 50 day moving average price is $52.69 and its 200-day moving average price is $53.56.

Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. Analysts forecast that Wells Fargo & will post $4.14 earnings per share for the current year.

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Wells Fargo & announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delphi Private Advisors LLC lifted its stake in Wells Fargo & by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the last quarter. Alexandria Capital LLC lifted its stake in Wells Fargo & by 0.3% during the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 6 shares during the last quarter. Brick & Kyle Associates lifted its stake in Wells Fargo & by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in Wells Fargo & during the second quarter worth $104,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo & by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

The Fly

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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