Macquarie upgraded shares of Wells Fargo & Co (NYSE:WFC) from a neutral rating to an outperform rating in a research report released on Monday, Marketbeat reports.

A number of other research analysts also recently weighed in on WFC. Zacks Investment Research downgraded Wells Fargo & Co from a buy rating to a hold rating in a research note on Sunday, July 15th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a market perform rating to an outperform rating and raised their price target for the company from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. ValuEngine downgraded Wells Fargo & Co from a hold rating to a sell rating in a research note on Friday, September 28th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a hold rating in a research note on Friday, July 13th. Finally, Morgan Stanley upgraded Wells Fargo & Co from an underweight rating to an equal weight rating and raised their price target for the company from $57.00 to $62.00 in a research note on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $63.79.

NYSE:WFC opened at $53.10 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. The stock has a market cap of $256.37 billion, a P/E ratio of 12.92, a PEG ratio of 1.43 and a beta of 1.15. Wells Fargo & Co has a 52-week low of $50.26 and a 52-week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). The firm had revenue of $21.94 billion for the quarter, compared to the consensus estimate of $21.90 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. On average, research analysts predict that Wells Fargo & Co will post 4.55 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Landaas & Co. WI ADV acquired a new stake in Wells Fargo & Co during the 2nd quarter worth approximately $117,000. Parkside Investments LLC acquired a new stake in Wells Fargo & Co during the 3rd quarter worth approximately $174,000. Cerebellum GP LLC acquired a new stake in Wells Fargo & Co during the 3rd quarter worth approximately $179,000. Stelac Advisory Services LLC lifted its holdings in Wells Fargo & Co by 99.3% during the 1st quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 1,784 shares during the last quarter. Finally, Diligent Investors LLC acquired a new stake in Wells Fargo & Co during the 2nd quarter worth approximately $200,000. 77.57% of the stock is owned by institutional investors.

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.

Recommended Story: What is intrinsic value?

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.