Wells Fargo & Co (NYSE:WFC) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The analysts noted that the move was a valuation call.

WFC has been the topic of a number of other research reports. Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $57.00 to $62.00 in a report on Monday, July 2nd. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a report on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and an average target price of $63.34.

Shares of WFC opened at $57.40 on Friday. The stock has a market capitalization of $282.57 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.57 and a beta of 1.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a fifty-two week low of $49.43 and a fifty-two week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.04). The business had revenue of $21.55 billion during the quarter, compared to analysts’ expectations of $21.52 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. equities analysts predict that Wells Fargo & Co will post 4.56 earnings per share for the current year.

In other news, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the sale, the executive vice president now owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Large investors have recently bought and sold shares of the company. Intact Investment Management Inc. lifted its position in Wells Fargo & Co by 88.1% during the second quarter. Intact Investment Management Inc. now owns 102,900 shares of the financial services provider’s stock valued at $5,708,000 after purchasing an additional 48,200 shares during the period. Independent Order of Foresters lifted its position in Wells Fargo & Co by 20.4% during the second quarter. Independent Order of Foresters now owns 8,330 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 1,410 shares during the period. Bell & Brown Wealth Advisors LLC lifted its position in Wells Fargo & Co by 76.4% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 47,076 shares of the financial services provider’s stock valued at $2,610,000 after purchasing an additional 20,396 shares during the period. Alpha Cubed Investments LLC lifted its position in Wells Fargo & Co by 16.0% during the second quarter. Alpha Cubed Investments LLC now owns 209,920 shares of the financial services provider’s stock valued at $11,638,000 after purchasing an additional 28,917 shares during the period. Finally, Alethea Capital Management LLC bought a new position in Wells Fargo & Co during the second quarter valued at approximately $542,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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