Wells Fargo & Co. (NYSE:WFC) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $47.92 price target on the financial services provider’s stock. Vetr‘s target price suggests a potential upside of 4.15% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Bank of America Corp. set a $50.00 price target on shares of Wells Fargo & Co. and gave the stock a “buy” rating in a research note on Monday. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Wells Fargo & Co. in a research note on Monday. Robert W. Baird upgraded shares of Wells Fargo & Co. from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $45.43 to $50.00 in a research note on Monday. Deutsche Bank AG restated a “buy” rating and issued a $59.00 price target on shares of Wells Fargo & Co. in a research note on Friday. Finally, Atlantic Securities downgraded shares of Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $46.15 to $44.00 in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.08.

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 1.28% during trading on Monday, reaching $46.01. The company had a trading volume of 33,562,406 shares. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The firm has a market capitalization of $232.15 billion, a PE ratio of 11.36 and a beta of 0.90. The firm has a 50-day moving average of $48.48 and a 200 day moving average of $48.66.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ 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 was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. Analysts expect that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

The company also recently announced 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 of this dividend was Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.30%. Wells Fargo & Co.’s dividend payout ratio (DPR) is currently 37.25%.

In related 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 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 this hyperlink. Corporate insiders own 0.29% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC increased its position in 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 in the last quarter. Brick & Kyle Associates increased its position in 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 in the last quarter. Tradewinds Capital Management LLC increased its position in 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 in the last quarter. Cedar Wealth Management LLC increased its position in 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 in the last quarter. Finally, Gemmer Asset Management LLC increased its position in 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 in the last quarter. 74.01% of the stock is currently owned by institutional investors.

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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