Wells Fargo & Co. (NYSE:WFC) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $48.00 price target on the financial services provider’s stock, down from their previous price target of $53.50. JPMorgan Chase & Co.’s target price points to a potential upside of 4.73% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Barclays PLC restated a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Nomura restated a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Vetr downgraded shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating and set a $47.68 target price on the stock. in a report on Wednesday. Finally, Drexel Hamilton restated a “buy” rating on shares of Wells Fargo & Co. in a report on Monday, July 18th. Seven investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.93.

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 1.57% during trading on Wednesday, hitting $45.83. 64,525,230 shares of the stock were exchanged. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The company has a market cap of $231.24 billion, a P/E ratio of 11.32 and a beta of 0.90. The firm’s 50-day moving average is $48.44 and its 200 day moving average is $48.63.

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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, meeting the Zacks’ consensus estimate of $1.01. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The company had revenue of $22.20 billion for the quarter. During the same quarter last year, the business earned $1.03 earnings per share. Wells Fargo & Co.’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, August 3rd. Wells Fargo & Co.’s payout ratio is 37.25%.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Trust Co. of Virginia VA boosted its position in shares of Wells Fargo & Co. by 2.4% in the first quarter. Trust Co. of Virginia VA now owns 184,628 shares of the financial services provider’s stock worth $8,929,000 after buying an additional 4,368 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Wells Fargo & Co. by 50.4% in the first quarter. Fulton Bank N.A. now owns 65,765 shares of the financial services provider’s stock worth $3,181,000 after buying an additional 22,033 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in shares of Wells Fargo & Co. by 1.0% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 27,192 shares of the financial services provider’s stock worth $1,315,000 after buying an additional 265 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Wells Fargo & Co. by 1.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 3,950,270 shares of the financial services provider’s stock worth $191,036,000 after buying an additional 66,452 shares in the last quarter. Finally, Community Trust & Investment Co. boosted its position in shares of Wells Fargo & Co. by 2.1% in the first quarter. Community Trust & Investment Co. now owns 268,443 shares of the financial services provider’s stock worth $12,982,000 after buying an additional 5,446 shares in the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

About Wells Fargo & Co.

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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