Wells Fargo & Company (NYSE:WFC)‘s stock had its “neutral” rating reissued by research analysts at UBS AG in a research report issued to clients and investors on Friday, 99wallstreet.com reports. They currently have a $56.00 price target on the financial services provider’s stock, down from their prior price target of $59.00. UBS AG’s price target points to a potential upside of 8.40% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Vetr lowered shares of Wells Fargo & from a “buy” rating to a “sell” rating and set a $48.62 target price on the stock. in a report on Wednesday. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday. Robert W. Baird restated a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a report on Tuesday, September 5th. Keefe, Bruyette & Woods set a $61.00 target price on shares of Wells Fargo & and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, BidaskClub lowered shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Wells Fargo & currently has a consensus rating of “Hold” and a consensus price target of $55.47.

Shares of Wells Fargo & (WFC) traded up 0.72% during trading on Friday, hitting $51.66. The stock had a trading volume of 28,494,046 shares. Wells Fargo & has a 1-year low of $43.55 and a 1-year high of $59.99. The company has a market capitalization of $256.44 billion, a P/E ratio of 12.72 and a beta of 0.96. The firm has a 50-day moving average of $52.01 and a 200 day moving average of $54.08.

Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & will post $4.16 earnings per share for the current fiscal year.

Wells Fargo & announced that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Wells Fargo & by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after buying an additional 3,621,402 shares in the last quarter. Capital World Investors raised its position in Wells Fargo & by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors raised its position in Wells Fargo & by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP raised its position in Wells Fargo & by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after purchasing an additional 6,291,906 shares during the period. Finally, Davis Selected Advisers raised its position in Wells Fargo & by 1.9% in the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after purchasing an additional 472,585 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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