Wells Fargo & Co. (NYSE:WFC) was upgraded by stock analysts at Vetr from a “strong sell” rating to a “sell” rating in a research report issued on Monday. The brokerage presently has a $46.56 target price on the financial services provider’s stock. Vetr‘s target price points to a potential downside of 10.22% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI reissued a “buy” rating and issued a $51.00 target price on shares of Wells Fargo & Co. in a research note on Sunday, October 23rd. Citigroup Inc. reissued a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, November 10th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Wells Fargo & Co. in a research note on Friday, September 23rd. Keefe, Bruyette & Woods set a $57.00 target price on shares of Wells Fargo & Co. and gave the company a “buy” rating in a research note on Thursday, October 13th. Finally, Deutsche Bank AG reduced their target price on shares of Wells Fargo & Co. from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, September 22nd. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.57.

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

Wells Fargo & Co. (NYSE:WFC) opened at 51.86 on Monday. The company’s 50-day moving average is $47.88 and its 200-day moving average is $47.86. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.24. The stock has a market capitalization of $260.46 billion, a PE ratio of 12.87 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $22.30 billion for the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. Wells Fargo & Co.’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Equities research analysts forecast that Wells Fargo & Co. will post $4.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 2.93%. Wells Fargo & Co.’s dividend payout ratio is currently 37.44%.

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A number of large investors have recently added to or reduced their stakes in the stock. Parnassus Investments CA boosted its stake in Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock worth $579,330,000 after buying an additional 10,990,229 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares during the period. Ruane Cunniff & Goldfarb Inc. boosted its stake in shares of Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock valued at $248,132,000 after buying an additional 5,150,302 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Co. by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock valued at $1,169,680,000 after buying an additional 2,987,795 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Wells Fargo & Co. by 76.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,742,003 shares of the financial services provider’s stock valued at $319,099,000 after buying an additional 2,931,875 shares during the period. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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

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

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