Piper Jaffray Cos. restated their underweight rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research report released on Wednesday morning. The brokerage currently has a $45.00 target price on the financial services provider’s stock.

A number of other analysts have also recently issued reports on WFC. Keefe, Bruyette & Woods restated an outperform rating on shares of Wells Fargo & Co. in a research note on Wednesday, August 31st. FBR & Co restated a buy rating and set a $63.00 target price on shares of Wells Fargo & Co. in a research note on Wednesday, June 1st. Vetr cut shares of Wells Fargo & Co. from a hold rating to a sell rating and set a $46.32 target price for the company. in a research note on Tuesday, August 30th. Royal Bank Of Canada restated a buy rating on shares of Wells Fargo & Co. in a research note on Thursday, May 26th. Finally, Drexel Hamilton restated a buy rating on shares of Wells Fargo & Co. in a research note on Thursday, May 26th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. Wells Fargo & Co. presently has an average rating of Hold and a consensus target price of $52.08.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 46.01 on Wednesday. The company has a market capitalization of $232.15 billion, a PE ratio of 11.36 and a beta of 0.90. The firm’s 50-day moving average is $48.48 and its 200 day moving average is $48.66. Wells Fargo & Co. has a 52 week low of $44.50 and a 52 week high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The company earned $22.20 billion during the quarter. During the same period last year, the business earned $1.03 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a yield of 3.30%. Wells Fargo & Co.’s payout ratio is 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the transaction, the chief operating officer now owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFC. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wells Fargo & Co. during the fourth quarter valued at $9,464,000. HM Payson & Co. increased its position in Wells Fargo & Co. by 0.3% in the fourth quarter. HM Payson & Co. now owns 612,613 shares of the financial services provider’s stock valued at $33,302,000 after buying an additional 2,088 shares during the last quarter. Lynch & Associates IN increased its position in Wells Fargo & Co. by 0.7% in the fourth quarter. Lynch & Associates IN now owns 93,174 shares of the financial services provider’s stock valued at $5,065,000 after buying an additional 622 shares during the last quarter. Palisade Asset Management LLC increased its position in Wells Fargo & Co. by 1.3% in the fourth quarter. Palisade Asset Management LLC now owns 186,203 shares of the financial services provider’s stock valued at $10,122,000 after buying an additional 2,382 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC acquired a new position in Wells Fargo & Co. during the fourth quarter valued at $5,168,000. Hedge funds and other institutional investors own 74.01% 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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