Several analysts have recently updated their ratings and price targets for Wells Fargo & Co. (NYSE: WFC):

  • 9/21/2016 – Wells Fargo & Co. was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $47.68 price target on the stock.
  • 9/21/2016 – Wells Fargo & Co. was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $48.00 price target on the stock, down previously from $53.50.
  • 9/20/2016 – Wells Fargo & Co. was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $53.00 price target on the stock, down previously from $56.00.
  • 9/20/2016 – Wells Fargo & Co. had its “outperform” rating reaffirmed by analysts at Credit Agricole SA. They now have a $57.00 price target on the stock.
  • 9/20/2016 – Wells Fargo & Co. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Wells Fargo’s troubles continue to deepen following its $190-million settlement to resolve regulators’ claims of illegally opening millions of unauthorized accounts. The company currently faces huge criticism as the bank’s employees resorted to unethical sales practices to meet their aggressive internal sales targets. The bank has terminated the concerned employees and is taking necessary steps to address the issue. However, the fallout from the scam does not only include potential lawsuits and further probes but also tarnishes the reputation of one of the largest banks of the nation. While the company’s growth profile remains well positioned, given its strong geographic footprint and solid business mix, the low interest rate environment continues to weigh on margin.”
  • 9/19/2016 – Wells Fargo & Co. was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $50.00 price target on the stock, up previously from $45.43.
  • 9/19/2016 – Wells Fargo & Co. had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 9/19/2016 – Wells Fargo & Co. was given a new $50.00 price target on by analysts at Bank of America Corp.. They now have a “buy” rating on the stock.
  • 9/19/2016 – Wells Fargo & Co. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $47.92 price target on the stock.
  • 9/16/2016 – Wells Fargo & Co. was downgraded by analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating. They now have a $44.00 price target on the stock, down previously from $46.15.
  • 9/16/2016 – Wells Fargo & Co. had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $59.00 price target on the stock.
  • 9/15/2016 – Wells Fargo & Co. had its price target lowered by analysts at Barclays PLC from $61.00 to $58.00. They now have an “overweight” rating on the stock.
  • 9/14/2016 – Wells Fargo & Co. had its “underweight” rating reaffirmed by analysts at Piper Jaffray Cos.. They now have a $45.00 price target on the stock.
  • 9/13/2016 – Wells Fargo & Co. was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $46.98 price target on the stock.
  • 9/9/2016 – Wells Fargo & Co. was downgraded by analysts at Rafferty Capital Markets from a “hold” rating to a “sell” rating. They now have a $44.00 price target on the stock.
  • 9/9/2016 – Wells Fargo & Co. had its “hold” rating reaffirmed by analysts at Sandler O’Neill.
  • 9/9/2016 – Wells Fargo & Co. had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $57.00 price target on the stock.
  • 9/5/2016 – Wells Fargo & Co. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Wells Fargo’s growth profile remains well positioned, given its strong geographic footprint and solid business mix. In line with its expansion strategy, last month, the company completed the acquisition of General Electric Company’s Commercial Distribution Finance business in Australia & New Zealand. Cross selling, continued growth in loans and deposits and diverse fee income base should boost profitability of Wells Fargo. However, the low interest rate environment continues to weigh on margin. Further, increasing costs and stringent regulatory landscape remain other major concerns.”
  • 8/31/2016 – Wells Fargo & Co. had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 8/30/2016 – Wells Fargo & Co. was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $46.32 price target on the stock.
  • 8/1/2016 – Wells Fargo & Co. was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $49.02 price target on the stock.
  • 7/27/2016 – Wells Fargo & Co. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $50.19 price target on the stock.

Wells Fargo & Co. (NYSE:WFC) traded down 2.1572% during mid-day trading on Wednesday, hitting $45.5556. The stock had a trading volume of 19,876,920 shares. The stock’s 50 day moving average price is $48.44 and its 200 day moving average price is $48.63. The firm has a market capitalization of $229.85 billion, a price-to-earnings ratio of 11.2483 and a beta of 0.90. Wells Fargo & Co. has a one year low of $44.50 and a one year high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.01. The business 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. Analysts forecast that Wells Fargo & Co. will post $4.02 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued 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 dividend yield of 3.26%. Wells Fargo & Co.’s payout ratio is presently 37.25%.

In related news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction dated 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 completion of the transaction, 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 SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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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