Vetr upgraded shares of Wells Fargo & Co. (NYSE:WFC) from a hold rating to a buy rating in a research report released on Monday. Vetr currently has $47.92 price target on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Deutsche Bank AG restated a buy rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Barclays PLC restated a buy rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Nomura reiterated a buy rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Drexel Hamilton reiterated a buy rating on shares of Wells Fargo & Co. in a report on Monday, July 18th. Finally, RBC Capital Markets reiterated a buy rating and issued a $54.00 target price (down from $57.00) on shares of Wells Fargo & Co. in a report on Tuesday, July 19th. Seven 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 company. The company currently has a consensus rating of Hold and a consensus target price of $51.65.

Wells Fargo & Co. (NYSE:WFC) opened at 45.72 on Monday. The stock has a market cap of $230.68 billion, a P/E ratio of 11.29 and a beta of 0.90. The company has a 50 day moving average of $48.34 and a 200-day moving average of $48.59. Wells Fargo & Co. has a 12-month low of $44.50 and a 12-month high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The firm earned $22.20 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Equities analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a $0.38 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a yield of 3.32%. Wells Fargo & Co.’s dividend payout ratio is presently 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in WFC. Global X Management Co. LLC raised 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 in 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. Institutional investors and hedge funds own 73.98% 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

To view Vetr’s full report, visit Vetr’s official website.

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