Bank of America Corp. set a $50.00 price target on Wells Fargo & Co. (NYSE:WFC) in a research report released on Monday. The firm currently has a a buy rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Vetr cut shares of Wells Fargo & Co. from a strong-buy rating to a buy rating and set a $51.06 price objective on the stock. in a research report on Wednesday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Wells Fargo & Co. from $57.00 to $54.00 and set an outperform rating on the stock in a research report on Monday, July 18th. Evercore ISI restated a buy rating and issued a $53.00 price objective on shares of Wells Fargo & Co. in a research report on Monday, July 18th. Barclays PLC decreased their price objective on shares of Wells Fargo & Co. from $61.00 to $58.00 and set an overweight rating on the stock in a research report on Thursday, September 15th. Finally, Zacks Investment Research upgraded shares of Wells Fargo & Co. from a sell rating to a hold rating in a research report on Monday, September 5th. Seven 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’s stock. Wells Fargo & Co. currently has an average rating of Hold and an average target price of $51.65.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.72 on Monday. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The stock has a 50 day moving average of $48.34 and a 200 day moving average of $48.59. The company has a market cap of $230.68 billion, a price-to-earnings ratio of 11.29 and a beta of 0.90.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The company 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 firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. Analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current year.

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.32%. Wells Fargo & Co.’s payout ratio is presently 37.25%.

In other news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the transaction, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Several institutional investors have recently modified their holdings of WFC. Global X Management Co. LLC increased its position in shares of 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 valued at $152,000 after buying an additional 303 shares during 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 valued at $154,000 after buying an additional 147 shares during 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 valued at $155,000 after buying an additional 1,059 shares during 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 valued at $177,000 after buying an additional 234 shares during 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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