Wells Fargo & Company (NYSE:WFC)‘s stock had its “neutral” rating restated by analysts at UBS AG in a research report issued to clients and investors on Friday. They currently have a $56.00 price objective on the financial services provider’s stock, down from their prior price objective of $59.00. UBS AG’s price objective would indicate a potential upside of 9.16% from the company’s previous close.

A number of other brokerages also recently weighed in on WFC. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Buckingham Research reissued a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Keefe, Bruyette & Woods reissued an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Finally, Instinet reissued a “buy” rating and set a $64.00 price target on shares of Wells Fargo & in a research report on Wednesday, July 12th. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Wells Fargo & has a consensus rating of “Hold” and a consensus target price of $55.47.

Wells Fargo & (NYSE:WFC) traded up 0.341% during mid-day trading on Friday, reaching $51.465. The company’s stock had a trading volume of 5,351,499 shares. Wells Fargo & has a 1-year low of $43.55 and a 1-year high of $59.99. The firm has a market capitalization of $255.47 billion, a price-to-earnings ratio of 12.676 and a beta of 0.96. The firm has a 50-day moving average of $52.01 and a 200 day moving average of $54.08.

Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities analysts expect that Wells Fargo & will post $4.16 earnings per share for the current year.

Wells Fargo & declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several hedge funds have recently added to or reduced their stakes in WFC. Boston Partners boosted its position in shares of Wells Fargo & by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares in the last quarter. Capital World Investors boosted its position in shares of Wells Fargo & by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Wells Fargo & by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Wells Fargo & by 396.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after purchasing an additional 4,707,207 shares in the last quarter. 75.19% of the stock is currently owned by institutional investors.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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