Wells Fargo & Co. (NYSE:WFC) was down 3% during mid-day trading 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 equities research analysts have recently issued reports on WFC shares. Vetr lowered shares of Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price target for the company. in a research note on Wednesday, July 6th. Nomura Holdings Inc. restated a “buy” rating and set a $58.00 price target (down previously from $60.00) on shares of Wells Fargo & Co. in a research note on Monday, April 25th. Zacks Investment Research upgraded shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Argus reiterated a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Co. in a research note on Monday, June 27th. Finally, Guggenheim lowered shares of Wells Fargo & Co. from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 6th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Wells Fargo & Co. presently has a consensus rating of “Hold” and a consensus price target of $54.11.

The firm has a 50 day moving average price of $48.04 and a 200 day moving average price of $48.90. The firm has a market cap of $242.23 billion and a price-to-earnings ratio of 11.72.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business earned $22.20 billion during the quarter, compared to analysts’ expectations of $22.17 billion. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, equities analysts expect that Wells Fargo & Co. will post $4.05 EPS for the current year.

In other news, EVP Avid Modjtabai sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $50.77, for a total value of $2,792,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Quigley bought 2,000 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was purchased at an average price of $49.97 per share, with a total value of $99,940.00. Following the acquisition, the director now directly owns 2,150 shares in the company, valued at approximately $107,435.50. The disclosure for this purchase can be found here.

Other large investors have recently added to or reduced their stakes in the company. Morningstar Investment Services LLC raised its stake in Wells Fargo & Co. by 9.7% in the fourth quarter. Morningstar Investment Services LLC now owns 684,551 shares of the financial services provider’s stock valued at $37,212,000 after buying an additional 60,714 shares during the period. Ashburton Jersey Ltd purchased a new stake in Wells Fargo & Co. during the fourth quarter valued at about $2,943,000. Argent Trust Co raised its stake in Wells Fargo & Co. by 1.5% in the third quarter. Argent Trust Co now owns 30,269 shares of the financial services provider’s stock valued at $1,554,000 after buying an additional 460 shares during the period. Affinity Investment Advisors LLC raised its stake in Wells Fargo & Co. by 0.9% in the fourth quarter. Affinity Investment Advisors LLC now owns 665,453 shares of the financial services provider’s stock valued at $36,174,000 after buying an additional 6,116 shares during the period. Finally, Foresters Investment Management Company Inc. raised its stake in Wells Fargo & Co. by 13.1% in the fourth quarter. Foresters Investment Management Company Inc. now owns 674,087 shares of the financial services provider’s stock valued at $36,643,000 after buying an additional 78,100 shares during the period.

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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