Wells Fargo & Co. (NYSE:WFC) had its price target cut by equities researchers at Deutsche Bank AG from $59.00 to $50.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price target suggests a potential upside of 9.10% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. FBR & Co reaffirmed a “buy” rating and set a $63.00 target price on shares of Wells Fargo & Co. in a research note on Wednesday, June 1st. Vetr lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a research note on Tuesday, August 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, May 26th. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a research note on Thursday, May 26th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.65.

Analyst Recommendations for Wells Fargo & Co. (NYSE:WFC)

Wells Fargo & Co. (NYSE:WFC) traded up 0.52% during trading on Thursday, hitting $46.07. 9,251,536 shares of the stock were exchanged. Wells Fargo & Co. has a 52 week low of $44.50 and a 52 week high of $56.34. The stock has a market cap of $232.45 billion, a P/E ratio of 11.38 and a beta of 0.90. The stock has a 50 day moving average of $48.39 and a 200-day moving average of $48.61.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors 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 3.32%. Wells Fargo & Co.’s dividend payout ratio is 37.25%.

In related news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction on Monday, August 8th. The shares were 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 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 hyperlink. Corporate insiders own 0.29% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in 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 valued at $109,000 after buying an additional 905 shares during the period. Brick & Kyle Associates raised its position in 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 valued at $152,000 after buying an additional 303 shares during the period. 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 valued at $154,000 after buying an additional 147 shares during the period. 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 valued at $155,000 after buying an additional 1,059 shares during the period. 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 valued at $177,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds 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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