Robert W. Baird upgraded shares of Wells Fargo & Co. (NYSE:WFC) from a neutral rating to an outperform rating in a report released on Monday. They currently have $50.00 target price on the financial services provider’s stock, up from their prior target price of $45.43.

Analyst Recommendations for Wells Fargo & Co. (NYSE:WFC)

A number of other brokerages have also commented on WFC. Keefe, Bruyette & Woods reissued an outperform rating on shares of Wells Fargo & Co. in a report on Wednesday, August 31st. FBR & Co reissued a buy rating and set a $63.00 price objective on shares of Wells Fargo & Co. in a report on Wednesday, June 1st. Vetr lowered shares of Wells Fargo & Co. from a hold rating to a sell rating and set a $46.32 price objective on the stock. in a report on Tuesday, August 30th. Royal Bank Of Canada restated a buy rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Finally, Drexel Hamilton restated a buy rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. Wells Fargo & Co. has a consensus rating of Hold and a consensus target price of $51.93.

Wells Fargo & Co. (NYSE:WFC) opened at 45.83 on Monday. Wells Fargo & Co. has a 12 month low of $44.50 and a 12 month high of $56.34. The stock has a market capitalization of $231.24 billion, a P/E ratio of 11.32 and a beta of 0.90. The company’s 50-day moving average is $48.39 and its 200-day moving average is $48.61.

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. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm had revenue of $22.20 billion for the quarter. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, August 3rd. Wells Fargo & Co.’s dividend payout ratio is currently 37.25%.

In related news, COO Timothy J. Sloan sold 20,500 shares of the business’s 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 transaction, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WFC. Financial Advisory Group boosted its position in Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock worth $206,000 after buying an additional 22 shares in the last quarter. Annex Advisory Services LLC boosted its position in Wells Fargo & Co. by 0.4% in the second quarter. Annex Advisory Services LLC now owns 6,422 shares of the financial services provider’s stock worth $304,000 after buying an additional 25 shares in the last quarter. Bollard Group LLC boosted its position in Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock worth $209,000 after buying an additional 33 shares in the last quarter. Oakworth Capital Inc. boosted its position in Wells Fargo & Co. by 0.3% in the second quarter. Oakworth Capital Inc. now owns 14,625 shares of the financial services provider’s stock worth $741,000 after buying an additional 40 shares in the last quarter. Finally, Sharkey Howes & Javer boosted its position in Wells Fargo & Co. by 0.7% in the second quarter. Sharkey Howes & Javer now owns 5,915 shares of the financial services provider’s stock worth $280,000 after buying an additional 44 shares in the last quarter. 73.98% of the stock is owned by institutional investors and hedge funds.

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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