Wells Fargo & Co. (NYSE:WFC) traded down 2.1% during trading on Wednesday . The stock traded as low as $45.46 and last traded at $45.59, with a volume of 42,119,048 shares traded. The stock had previously closed at $46.56.

Several equities research analysts have recently commented on the stock. 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. Vetr cut shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating and set a $47.68 price target for the company. in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $53.50 to $48.00 in a research report on Wednesday. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $51.93.

The firm has a 50 day moving average of $48.39 and a 200 day moving average of $48.61. The firm has a market cap of $231.24 billion, a P/E ratio of 11.32 and a beta of 0.90.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/wells-fargo-co-wfc-trading-down-2-1.html

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The company earned $22.20 billion during the quarter. During the same quarter in the prior year, the firm posted $1.03 EPS. Wells Fargo & Co.’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

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

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the business’s 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 owns 650,815 shares in the company, valued at $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted 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 in the last quarter. Brick & Kyle Associates boosted 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 in the last quarter. Tradewinds Capital Management LLC raised its position in 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 raised its position in 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 raised its position in 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 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

Receive News & Ratings for Wells Fargo & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co. and related companies with MarketBeat.com's FREE daily email newsletter.