Wells Fargo & Co. (NYSE:WFC) had its price objective cut by Barclays PLC from $61.00 to $58.00 in a report published on Thursday morning. They currently have an overweight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. Vetr downgraded shares of Wells Fargo & Co. from a strong-buy rating to a buy rating and set a $51.06 price target on the stock. in a report on Wednesday, July 6th. Royal Bank Of Canada dropped their price target on shares of Wells Fargo & Co. from $57.00 to $54.00 and set an outperform rating on the stock in a report on Monday, July 18th. Evercore ISI reaffirmed a buy rating and set a $53.00 price target on shares of Wells Fargo & Co. in a report on Monday, July 18th. Bank of America Corp. reaffirmed a buy rating and set a $55.00 price target on shares of Wells Fargo & Co. in a report on Monday, July 18th. Finally, Zacks Investment Research upgraded shares of Wells Fargo & Co. from a sell rating to a hold rating in a research note on Monday, September 5th. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $52.26.

Wells Fargo & Co. (NYSE:WFC) opened at 46.56 on Thursday. The firm has a 50-day moving average of $48.44 and a 200-day moving average of $48.63. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The stock has a market cap of $234.92 billion, a PE ratio of 11.50 and a beta of 0.90.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly 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. The firm had revenue of $22.20 billion for the quarter. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Analysts expect that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.26%. Wells Fargo & Co.’s payout ratio is currently 37.25%.

In related news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in WFC. Global X Management Co. LLC increased its stake in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock valued at $109,000 after buying an additional 905 shares during the last quarter. Brick & Kyle Associates increased its position in shares of Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock worth $152,000 after buying an additional 303 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock worth $154,000 after buying an additional 147 shares in the last quarter. Cedar Wealth Management LLC increased its position in shares of Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,059 shares in the last quarter. Finally, Gemmer Asset Management LLC increased its position in shares of Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock worth $177,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

Wells Fargo & Co. Company Profile

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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