Wells Fargo & Co (NYSE:WFC) was upgraded by investment analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.
WFC has been the topic of several other reports. Piper Jaffray Companies reissued a “neutral” rating and set a $50.00 price objective (down from $52.00) on shares of Wells Fargo & Co in a research report on Wednesday, September 13th. Vetr downgraded shares of Wells Fargo & Co from a “buy” rating to a “sell” rating and set a $48.62 price objective on the stock. in a research report on Wednesday, September 13th. UBS Group reissued a “neutral” rating and set a $56.00 price objective (down from $59.00) on shares of Wells Fargo & Co in a research report on Friday, September 15th. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Finally, Nomura raised their price objective on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.27.
Wells Fargo & Co (WFC) opened at $62.04 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market cap of $305,730.00, a price-to-earnings ratio of 16.03, a P/E/G ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $63.05.
In related news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock valued at $10,471,050 in the last 90 days. Company insiders own 0.22% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox purchased a new stake in shares of Wells Fargo & Co during the fourth quarter worth about $3,942,119,000. Norges Bank purchased a new stake in shares of Wells Fargo & Co during the fourth quarter worth about $2,800,566,000. Alecta Pensionsforsakring Omsesidigt purchased a new stake in shares of Wells Fargo & Co during the first quarter worth about $698,802,000. Boston Partners grew its holdings in shares of Wells Fargo & Co by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after buying an additional 11,139,780 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in shares of Wells Fargo & Co by 879.2% during the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock worth $579,330,000 after buying an additional 10,990,229 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.
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Wells Fargo & Co 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.
