Wells Fargo & Co. (NYSE:WFC) shares traded down 3% on Friday . The stock traded as low as $47.41 and last traded at $47.47, with a volume of 22,157,700 shares. The stock had previously closed at $48.94.

Several research firms have recently commented on WFC. Citigroup Inc. reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, April 17th. FBR & Co reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, April 17th. Barclays PLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Wells Fargo & Co. in a report on Sunday, April 17th. Robert W. Baird reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a report on Sunday, April 17th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a report on Sunday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. Wells Fargo & Co. has a consensus rating of “Hold” and a consensus price target of $54.11.

The firm has a market capitalization of $242.23 billion and a PE ratio of 11.72. The stock’s 50 day moving average price is $48.12 and its 200-day moving average price is $48.94.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.17 billion. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Co. will post $4.07 EPS for the current fiscal year.

In related news, EVP Avid Modjtabai sold 55,000 shares of the stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $50.77, for a total value of $2,792,350.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James H. Quigley purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was purchased at an average price of $49.97 per share, for a total transaction of $99,940.00. Following the completion of the transaction, the director now directly owns 2,150 shares in the company, valued at $107,435.50. The disclosure for this purchase can be found here.

Other hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Wells Fargo & Co. by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 274,621,069 shares of the financial services provider’s stock worth $14,928,402,000 after buying an additional 4,893,739 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Co. by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,991,108 shares of the financial services provider’s stock worth $869,373,000 after buying an additional 631,447 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Wells Fargo & Co. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 8,908,244 shares of the financial services provider’s stock worth $484,252,000 after buying an additional 140,938 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Wells Fargo & Co. by 26.6% in the fourth quarter. State Treasurer State of Michigan now owns 7,875,034 shares of the financial services provider’s stock worth $428,087,000 after buying an additional 1,654,400 shares in the last quarter. Finally, SQ Advisors LLC increased its stake in shares of Wells Fargo & Co. by 2.4% in the fourth quarter. SQ Advisors LLC now owns 6,451,411 shares of the financial services provider’s stock worth $350,699,000 after buying an additional 148,983 shares in the last quarter.

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.

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