Atlantic Securities cut shares of Wells Fargo & Co. (NYSE:WFC) from a neutral rating to an underweight rating in a research note published on Friday morning. The firm currently has $44.00 target price on the financial services provider’s stock, down from their previous target price of $46.15.

A number of other equities analysts also recently commented on the stock. Barclays PLC reduced their target price on shares of Wells Fargo & Co. from $61.00 to $58.00 and set an overweight rating for the company in a report on Thursday, September 15th. Piper Jaffray Cos. reiterated an underweight rating and issued a $45.00 target price on shares of Wells Fargo & Co. in a report on Wednesday, September 14th. Vetr upgraded shares of Wells Fargo & Co. from a sell rating to a hold rating and set a $46.98 target price for the company in a report on Tuesday, September 13th. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $57.00 target price on shares of Wells Fargo & Co. in a report on Friday, September 9th. Finally, Sandler O’Neill restated a hold rating on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $52.26.

Wells Fargo & Co. (NYSE:WFC) opened at 46.56 on Friday. The company has a market cap of $234.92 billion, a PE ratio of 11.50 and a beta of 0.90. The stock has a 50 day moving average of $48.44 and a 200 day moving average of $48.63. Wells Fargo & Co. has a 52 week low of $44.50 and a 52 week high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.01. The business 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 business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Equities research analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Wednesday, August 3rd. Wells Fargo & Co.’s dividend payout ratio is presently 37.25%.

In other news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the transaction, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WFC. Global X Management Co. LLC boosted its position in shares of 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 worth $109,000 after buying an additional 905 shares during the period. Brick & Kyle Associates boosted its position in shares of 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 worth $152,000 after buying an additional 303 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of 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 worth $154,000 after buying an additional 147 shares during the period. Cedar Wealth Management LLC boosted its position in shares of 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 worth $155,000 after buying an additional 1,059 shares during the period. Finally, Gemmer Asset Management LLC boosted its position in shares of Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock worth $177,000 after buying an additional 234 shares during the period. Institutional investors own 73.98% of the company’s stock.

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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