Vertical Group assumed coverage on shares of Wells Fargo & Company (NYSE:WFC) in a report released on Friday. The brokerage issued a sell rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on WFC. UBS AG restated a neutral rating and set a $56.00 price target (down previously from $59.00) on shares of Wells Fargo & in a report on Friday, September 15th. Piper Jaffray Companies restated a neutral rating and set a $50.00 price target (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday, September 13th. Berenberg Bank downgraded Wells Fargo & from a hold rating to a sell rating and upped their price target for the stock from $35.00 to $45.00 in a report on Friday, July 21st. Robert W. Baird restated a buy rating and set a $58.00 price target on shares of Wells Fargo & in a report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods restated an overweight rating on shares of Wells Fargo & in a report on Thursday, July 13th. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & presently has an average rating of Hold and an average price target of $56.44.

Shares of Wells Fargo & (WFC) traded up 0.34% during midday trading on Friday, reaching $55.58. The company had a trading volume of 11,151,225 shares. Wells Fargo & has a 52 week low of $44.28 and a 52 week high of $59.99. The company’s 50 day moving average price is $52.59 and its 200-day moving average price is $53.59. The company has a market capitalization of $275.90 billion, a P/E ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Wells Fargo &’s revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & will post $4.14 earnings per share for the current fiscal year.

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Wells Fargo & declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the company. Alexandria Capital LLC raised its stake in shares of Wells Fargo & by 0.3% during the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Wells Fargo & by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Wells Fargo & by 0.7% during the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after buying an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Wells Fargo & by 0.5% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after buying an additional 24 shares in the last quarter. Finally, Financial Advisory Group raised its stake in shares of Wells Fargo & by 0.7% during the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after buying an additional 35 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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