Wells Fargo & Company (NYSE:WFC)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group, Inc. (The) in a research report issued to clients and investors on Wednesday.

Several other brokerages have also weighed in on WFC. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 target price on shares of Wells Fargo & in a research report on Friday, June 23rd. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price target on the stock in a research report on Monday, June 26th. BidaskClub upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.19.

Shares of Wells Fargo & (WFC) traded down 0.14% during trading on Wednesday, reaching $55.53. The company had a trading volume of 3,334,675 shares. Wells Fargo & has a 1-year low of $44.28 and a 1-year high of $59.99. The firm has a 50-day moving average of $52.79 and a 200 day moving average of $53.56. The firm has a market capitalization of $37.15 billion, a PE ratio of 13.68 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Analysts expect that Wells Fargo & will post $4.14 earnings per share for the current year.

Wells Fargo & announced that its Board of Directors has authorized a stock buyback plan 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 purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Large investors have recently modified their holdings of the stock. Delphi Private Advisors LLC lifted its position in Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Alexandria Capital LLC lifted its position 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 valued at $102,000 after purchasing an additional 6 shares during the last quarter. Brick & Kyle Associates lifted its position in Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in Wells Fargo & in the 2nd quarter valued at about $104,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position 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 valued at $106,000 after purchasing an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

About Wells Fargo &

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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