Wells Fargo & Co (NYSE:WFC) had its price target cut by Macquarie from $63.00 to $62.00 in a research report sent to investors on Monday. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts have also issued reports on WFC. Zacks Investment Research lowered shares of Wells Fargo & Co from a buy rating to a hold rating in a research report on Sunday, July 15th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a market perform rating to an outperform rating and boosted their target price for the company from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Susquehanna Bancshares set a $63.00 target price on shares of Wells Fargo & Co and gave the company a hold rating in a research report on Friday, July 13th. Morgan Stanley upgraded shares of Wells Fargo & Co from an underweight rating to an equal weight rating and boosted their target price for the company from $57.00 to $62.00 in a research report on Monday, July 2nd. Finally, Edward Jones upgraded shares of Wells Fargo & Co from a hold rating to a buy rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $63.28.

Shares of NYSE WFC opened at $54.31 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market cap of $266.96 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.48 and a beta of 1.12. Wells Fargo & Co has a 12-month low of $50.26 and a 12-month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.04). The business had revenue of $21.55 billion for the quarter, compared to the consensus estimate of $21.52 billion. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. equities research analysts anticipate that Wells Fargo & Co will post 4.56 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were given a $0.43 dividend. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio is presently 41.85%.

In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Cedar Capital LLC lifted its holdings in shares of Wells Fargo & Co by 13.3% in the second quarter. Cedar Capital LLC now owns 7,383 shares of the financial services provider’s stock worth $409,000 after buying an additional 867 shares in the last quarter. Kessler Investment Group LLC lifted its holdings in shares of Wells Fargo & Co by 2.3% in the second quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock worth $2,144,000 after buying an additional 875 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Wells Fargo & Co by 18.4% in the second quarter. Proficio Capital Partners LLC now owns 5,699 shares of the financial services provider’s stock worth $316,000 after buying an additional 886 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Wells Fargo & Co by 2.9% in the second quarter. GHP Investment Advisors Inc. now owns 31,775 shares of the financial services provider’s stock worth $1,762,000 after buying an additional 886 shares in the last quarter. Finally, Community Trust & Investment Co. lifted its holdings in shares of Wells Fargo & Co by 13.1% in the second quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock worth $428,000 after buying an additional 894 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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