Oppenheimer Holdings Inc. reaffirmed their market perform rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research report sent to investors on Monday.

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

A number of other equities analysts have also weighed in on the company. Robert W. Baird upgraded Wells Fargo & Co. from a neutral rating to an outperform rating and lifted their price objective for the company from $45.43 to $50.00 in a research note on Monday. Deutsche Bank AG reiterated a buy rating and set a $59.00 price objective on shares of Wells Fargo & Co. in a research note on Friday, September 16th. Atlantic Securities lowered Wells Fargo & Co. from a neutral rating to an underweight rating and reduced their price objective for the company from $46.15 to $44.00 in a research note on Friday, September 16th. Barclays PLC reduced their price objective on Wells Fargo & Co. from $61.00 to $58.00 and set an overweight rating for the company in a research note on Thursday, September 15th. Finally, Piper Jaffray Cos. reiterated an underweight rating and set a $45.00 price objective on shares of Wells Fargo & Co. in a research note on Wednesday, September 14th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $51.93.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.83 on Monday. Wells Fargo & Co. has a 52-week low of $44.50 and a 52-week high of $56.34. The stock has a market capitalization of $231.24 billion, a P/E ratio of 11.32 and a beta of 0.90. The company has a 50 day moving average price of $48.39 and a 200-day moving average price of $48.61.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.01. The business earned $22.20 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. On average, analysts predict that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, August 3rd. Wells Fargo & Co.’s payout ratio is 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in WFC. Sun Life Financial INC acquired a new position in Wells Fargo & Co. during the first quarter valued at approximately $93,093,000. Global X Management Co. LLC increased its position in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock valued at $109,000 after buying an additional 905 shares during the period. Brick & Kyle Associates increased its position in Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock valued at $152,000 after buying an additional 303 shares during the period. Tradewinds Capital Management LLC increased its position in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock valued at $154,000 after buying an additional 147 shares during the period. Finally, Cedar Wealth Management LLC increased its position in Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,059 shares during the period. 73.98% of the stock is currently owned by institutional investors.

Wells Fargo & Co. Company Profile

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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