Piper Jaffray Cos. reaffirmed their underweight rating on shares of Wells Fargo & Co. (NYSE:WFC) in a research note released 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 research reports about the stock. Deutsche Bank AG restated a buy rating on shares of Wells Fargo & Co. in a research report on Saturday, June 4th. FBR & Co restated a buy rating and set a $63.00 price objective on shares of Wells Fargo & Co. in a research report on Wednesday, June 1st. Royal Bank Of Canada restated a buy rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Drexel Hamilton restated a buy rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Finally, Evercore ISI restated a buy rating and set a $53.00 price objective on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Wells Fargo & Co. has a consensus rating of Hold and an average target price of $52.29.

Wells Fargo & Co. (NYSE:WFC) opened at 45.43 on Wednesday. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The stock has a market capitalization of $229.22 billion, a P/E ratio of 11.22 and a beta of 0.90. The stock has a 50 day moving average of $48.71 and a 200 day moving average of $48.74.

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

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

In other news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WFC. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wells Fargo & Co. during the fourth quarter worth approximately $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 worth $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 worth $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 worth $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 worth approximately $5,168,000. 74.01% of the stock is 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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