Equities researchers at Vertical Group began coverage on shares of Wells Fargo & Company (NYSE:WFC) in a report issued on Friday, The Fly reports. The firm set a “sell” rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Instinet reissued a “buy” rating and set a $64.00 target price on shares of Wells Fargo & in a research report on Wednesday, July 12th. Vetr raised shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 target price for the company in a research report on Monday, June 26th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 target price on shares of Wells Fargo & in a research report on Friday, June 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 target price on shares of Wells Fargo & in a research report on Friday, July 28th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & has a consensus rating of “Hold” and an average target price of $56.44.

Shares of Wells Fargo & (NYSE:WFC) traded up 0.34% during midday trading on Friday, reaching $55.58. 11,020,382 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $52.48 and a 200 day moving average price of $53.60. Wells Fargo & has a 12 month low of $44.28 and a 12 month high of $59.99. The firm has a market cap of $275.90 billion, a PE ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating 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 firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & will post $4.14 earnings per share for the current year.

Wells Fargo & announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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A number of institutional investors have recently made changes to their positions in the business. Alexandria Capital LLC grew its holdings in Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 6 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Wells Fargo & by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Wells Fargo & by 0.7% in the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 18 shares during the last quarter. Financial Advisory Group grew its holdings in Wells Fargo & by 0.5% in the 1st quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 22 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. grew its holdings in Wells Fargo & by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 24 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Wells Fargo & (NYSE:WFC)

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