Wells Fargo & Co. (NYSE:WFC) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday. The brokerage currently has a $53.00 price target on the financial services provider’s stock, down from their previous price target of $56.00. Morgan Stanley’s price target would indicate a potential upside of 15.19% from the company’s previous close.

Several other research firms have also issued reports on WFC. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & Co. in a report on Wednesday, August 31st. FBR & Co reiterated a “buy” rating and set a $63.00 target price on shares of Wells Fargo & Co. in a report on Wednesday, June 1st. Vetr lowered Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a report on Tuesday, August 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Finally, Drexel Hamilton reiterated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. Wells Fargo & Co. has a consensus rating of “Hold” and an average price target of $52.11.

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

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 46.01 on Tuesday. The stock’s 50 day moving average price is $48.48 and its 200 day moving average price is $48.66. The firm has a market cap of $232.15 billion, a price-to-earnings ratio of 11.36 and a beta of 0.90. Wells Fargo & Co. has a one year low of $44.50 and a one year 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 analysts’ consensus estimates of $1.01. The company had revenue of $22.20 billion for the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities analysts anticipate that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.30%. Wells Fargo & Co.’s payout ratio is currently 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Curbstone Financial Management Corp increased its stake in shares of Wells Fargo & Co. by 1.9% in the first quarter. Curbstone Financial Management Corp now owns 36,900 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 700 shares during the last quarter. Stock Yards Bank & Trust Co. increased its stake in shares of Wells Fargo & Co. by 1.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 25,992 shares of the financial services provider’s stock worth $1,257,000 after buying an additional 369 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in shares of Wells Fargo & Co. by 30.9% in the first quarter. Indiana Trust & Investment Management CO now owns 34,656 shares of the financial services provider’s stock worth $1,676,000 after buying an additional 8,172 shares during the last quarter. New England Research & Management Inc. increased its stake in shares of Wells Fargo & Co. by 2.7% in the first quarter. New England Research & Management Inc. now owns 33,347 shares of the financial services provider’s stock worth $1,613,000 after buying an additional 875 shares during the last quarter. Finally, Trust Co. of Virginia VA increased its stake in shares of Wells Fargo & Co. by 2.4% in the first quarter. Trust Co. of Virginia VA now owns 184,628 shares of the financial services provider’s stock worth $8,929,000 after buying an additional 4,368 shares during the last quarter. Hedge funds and other institutional investors own 74.01% of the company’s stock.

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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