Piper Jaffray Cos. reissued their underweight rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research report report published on Wednesday morning. Piper Jaffray Cos. currently has a $45.00 target price on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reiterated a buy rating on shares of Wells Fargo & Co. in a report on Saturday, June 4th. Barclays PLC restated a buy rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Nomura restated a buy rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Drexel Hamilton restated a buy rating on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, RBC Capital Markets restated a buy rating and issued a $54.00 target price (down from $57.00) on shares of Wells Fargo & Co. in a research note on Tuesday, July 19th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. Wells Fargo & Co. currently has a consensus rating of Hold and a consensus price target of $52.29.

Wells Fargo & Co. (NYSE:WFC) opened at 45.43 on Wednesday. The stock has a market capitalization of $229.22 billion, a price-to-earnings ratio of 11.22 and a beta of 0.90. The stock’s 50 day moving average is $48.71 and its 200 day moving average is $48.74. Wells Fargo & Co. has a 12-month low of $44.50 and a 12-month high of $56.34.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a $0.38 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.35%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.25%.

In other news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction dated Monday, August 8th. The shares were 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 in the company, valued at $31,837,869.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wells Fargo & Co. during the fourth quarter valued at $9,464,000. HM Payson & Co. increased its position in Wells Fargo & Co. by 0.3% in the fourth quarter. HM Payson & Co. now owns 612,613 shares of the financial services provider’s stock valued at $33,302,000 after buying an additional 2,088 shares in the last quarter. Lynch & Associates IN increased its position in Wells Fargo & Co. by 0.7% in the fourth quarter. Lynch & Associates IN now owns 93,174 shares of the financial services provider’s stock valued at $5,065,000 after buying an additional 622 shares in the last quarter. Palisade Asset Management LLC increased its position in Wells Fargo & Co. by 1.3% in the fourth quarter. Palisade Asset Management LLC now owns 186,203 shares of the financial services provider’s stock valued at $10,122,000 after buying an additional 2,382 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC acquired a new position in Wells Fargo & Co. during the fourth quarter valued at $5,168,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

About Wells Fargo & Co.

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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