Wells Fargo & Co. (NYSE:WFC) was downgraded by research analysts at JPMorgan Chase & Co. to a “neutral” rating in a research report issued on Wednesday.

Other equities analysts also recently issued research reports about the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research report on Sunday, June 26th. Barclays PLC reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research report on Saturday, July 9th. Nomura reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research report on Saturday, July 9th. Morgan Stanley raised Wells Fargo & Co. from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $56.00 to $53.00 in a research report on Tuesday. Finally, Zacks Investment Research downgraded Wells Fargo & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.26.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 46.56 on Wednesday. The firm has a market cap of $234.92 billion, a P/E ratio of 11.50 and a beta of 0.90. The stock has a 50 day moving average of $48.44 and a 200 day moving average of $48.63. Wells Fargo & Co. has a 52 week low of $44.50 and a 52 week high of $56.34.

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Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The firm earned $22.20 billion during the quarter. During the same period last year, the company earned $1.03 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a dividend of $0.38 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Global X Management Co. LLC increased its stake in shares of 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 during the last quarter. Brick & Kyle Associates increased its stake in shares of 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 during the last quarter. Tradewinds Capital Management LLC increased its stake in shares of 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 during the last quarter. Cedar Wealth Management LLC increased its stake in shares of 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 during the last quarter. Finally, Gemmer Asset Management LLC increased its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 73.98% of the company’s stock.

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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