Wells Fargo & Co. (NYSE:WFC) had its price objective lifted by stock analysts at Deutsche Bank AG from $49.00 to $60.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 13.38% from the stock’s current price.

WFC has been the topic of several other reports. Vetr lowered shares of Wells Fargo & Co. from a “sell” rating to a “strong sell” rating and set a $46.19 price target on the stock. in a research report on Thursday, November 17th. Citigroup Inc. restated an “outperform” rating and set a $50.00 target price (down previously from $56.00) on shares of Wells Fargo & Co. in a research report on Monday, September 26th. Zacks Investment Research lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Sandler O’Neill restated a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 30th. Finally, Evercore ISI restated a “buy” rating and set a $51.00 target price on shares of Wells Fargo & Co. in a research report on Wednesday, September 28th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. Wells Fargo & Co. has a consensus rating of “Hold” and an average target price of $49.90.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 2.04% during mid-day trading on Wednesday, reaching $52.92. The company’s stock had a trading volume of 26,549,819 shares. The company has a market capitalization of $265.78 billion, a price-to-earnings ratio of 13.13 and a beta of 0.93. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $56.24. The firm’s 50 day moving average price is $47.82 and its 200-day moving average price is $47.86.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The business 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%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, analysts predict 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. Shareholders of record on Friday, November 4th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.87%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.44%.

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Several hedge funds have recently added to or reduced their stakes in WFC. Vanguard Group Inc. increased its stake in 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 worth $13,632,368,000 after buying an additional 6,247,583 shares during the period. TIAA CREF Investment Management LLC increased its stake in Wells Fargo & Co. by 2.8% in the second quarter. TIAA CREF Investment Management LLC now owns 29,781,903 shares of the financial services provider’s stock worth $1,409,577,000 after buying an additional 810,161 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 worth $1,169,680,000 after buying an additional 2,987,795 shares during the period. Davis Selected Advisers increased its stake in Wells Fargo & Co. by 1.2% in the second quarter. Davis Selected Advisers now owns 24,227,545 shares of the financial services provider’s stock worth $1,146,690,000 after buying an additional 294,032 shares during the period. Finally, Legal & General Group Plc increased its stake in Wells Fargo & Co. by 1.9% in the second quarter. Legal & General Group Plc now owns 23,166,689 shares of the financial services provider’s stock worth $1,096,389,000 after buying an additional 436,801 shares during the period. Institutional investors own 72.76% 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

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