Robert W. Baird upgraded shares of Wells Fargo & Co. (NYSE:WFC) from a neutral rating to an outperform rating in a research report report published on Monday morning. They currently have $50.00 target price on the financial services provider’s stock, up from their previous target price of $45.43.

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

WFC has been the subject of a number of other research reports. Keefe, Bruyette & Woods restated an outperform rating and issued a $57.00 price objective on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Vetr downgraded Wells Fargo & Co. from a strong-buy rating to a buy rating and set a $51.06 price target for the company. in a research note on Wednesday, July 6th. Raymond James Financial Inc. reiterated a market perform rating on shares of Wells Fargo & Co. in a research note on Thursday, July 7th. FBR & Co reiterated a buy rating and set a $63.00 price target on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, Barclays PLC cut their price target on Wells Fargo & Co. from $63.00 to $61.00 and set an overweight rating for the company in a research note on Monday, July 18th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Wells Fargo & Co. currently has a consensus rating of Hold and a consensus price target of $51.93.

Wells Fargo & Co. (NYSE:WFC) opened at 45.83 on Monday. The company has a market cap of $231.24 billion, a PE ratio of 11.32 and a beta of 0.90. The firm has a 50-day moving average price of $48.39 and a 200-day moving average price of $48.61. 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 quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm 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 firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. On average, analysts forecast that Wells Fargo & Co. will post $4.02 EPS for the current year.

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

In related news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Alecta Pensionsforsakring Omsesidigt bought a new position in shares of Wells Fargo & Co. during the first quarter worth about $698,802,000. Parnassus Investments CA boosted its position in shares of Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock worth $579,330,000 after buying an additional 10,990,229 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock worth $13,632,368,000 after buying an additional 6,247,583 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. boosted its position in shares of Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock worth $248,132,000 after buying an additional 5,150,302 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock worth $2,804,161,000 after buying an additional 4,695,036 shares during the last quarter. Institutional investors own 73.98% 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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