Goldman Sachs Group lowered shares of Wells Fargo & Co (NYSE:WFC) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have $48.00 price target on the financial services provider’s stock, down from their prior price target of $58.00.

Several other analysts also recently commented on WFC. ValuEngine raised shares of Wells Fargo & Co from a sell rating to a hold rating in a research report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Wells Fargo & Co from a hold rating to a sell rating in a research report on Monday, December 17th. Keefe, Bruyette & Woods downgraded shares of Wells Fargo & Co from an outperform rating to a market perform rating and decreased their target price for the stock from $58.00 to $50.00 in a research report on Sunday, March 31st. Credit Suisse Group reissued a hold rating and issued a $60.00 target price on shares of Wells Fargo & Co in a research report on Friday, January 11th. Finally, Deutsche Bank downgraded shares of Wells Fargo & Co from a buy rating to a hold rating and decreased their target price for the stock from $56.00 to $54.00 in a research report on Friday, March 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of Hold and a consensus price target of $56.45.

WFC stock opened at $46.77 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $232.86 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The company had revenue of $21.61 billion during the quarter, compared to the consensus estimate of $20.89 billion. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts predict that Wells Fargo & Co will post 4.93 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of WFC. Orrstown Financial Services Inc. raised its stake in Wells Fargo & Co by 125.9% during the 1st quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 287 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new position in Wells Fargo & Co during the 4th quarter valued at $32,000. SevenBridge Financial Group LLC raised its stake in Wells Fargo & Co by 500.0% during the 4th quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Athena Capital Advisors LLC acquired a new position in Wells Fargo & Co during the 4th quarter valued at $42,000. Finally, Mercer Capital Advisers Inc. raised its stake in Wells Fargo & Co by 81.3% during the 4th quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.

About Wells Fargo & Co

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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