Wolfe Research upgraded shares of Wells Fargo & Company (NYSE:WFC) from a peer perform rating to an outperform rating in a research report report published on Monday morning, Benzinga reports. They currently have $34.00 target price on the financial services provider’s stock, up from their previous target price of $31.00.

WFC has been the topic of several other reports. Barclays reduced their price target on Wells Fargo & Company from $40.00 to $33.00 and set an equal weight rating on the stock in a report on Wednesday, July 15th. Bank of America reduced their price target on Wells Fargo & Company from $32.00 to $29.00 and set a neutral rating on the stock in a report on Friday, July 10th. JPMorgan Chase & Co. lowered Wells Fargo & Company to a sell rating in a research note on Wednesday, July 15th. UBS Group raised Wells Fargo & Company from a sell rating to a neutral rating and lifted their price objective for the stock from $21.00 to $24.00 in a research note on Friday, September 11th. Finally, Robert W. Baird raised Wells Fargo & Company from a neutral rating to an outperform rating and set a $35.00 price objective on the stock in a research note on Friday, July 10th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $33.15.

Wells Fargo & Company stock opened at $25.11 on Monday. Wells Fargo & Company has a 12-month low of $22.00 and a 12-month high of $54.75. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.45. The business’s 50-day moving average price is $24.55 and its two-hundred day moving average price is $27.23. The stock has a market cap of $103.45 billion, a PE ratio of 28.86, a P/E/G ratio of 125.04 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.50). The firm had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $18.30 billion. Wells Fargo & Company had a return on equity of 4.33% and a net margin of 6.26%. The business’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 0.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. Wells Fargo & Company’s dividend payout ratio is 9.13%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFC. HHM Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $27,000. Watson Rebecca bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $37,000. Hoover Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $37,000. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Wells Fargo & Company by 95.0% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 1,320 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 643 shares in the last quarter. Finally, Selective Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company by 227.2% during the second quarter. Selective Wealth Management Inc. now owns 1,623 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,127 shares in the last quarter. Hedge funds and other institutional investors own 67.25% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Analyst Recommendations for Wells Fargo & Company (NYSE:WFC)

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