Wells Fargo & Co (WFC) Stock Rating Lowered by JPMorgan Chase & Co.

Wells Fargo & Co (NYSE:WFC) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Monday, February 5th, MarketBeat reports.

WFC has been the topic of a number of other research reports. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $52.91 target price on the stock in a research note on Monday, October 16th. Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research note on Monday, October 16th. Royal Bank of Canada cut shares of Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a research note on Wednesday, January 10th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $62.90.

Wells Fargo & Co (NYSE WFC) traded up $0.26 on Monday, hitting $59.81. 15,638,223 shares of the company were exchanged, compared to its average volume of 25,286,250. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90. The stock has a market capitalization of $294,180.00, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.01. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The business had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. research analysts predict that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.

Wells Fargo & Co declared that its board has approved a stock repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Ronald Sargent acquired 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $55.98 per share, with a total value of $503,820.00. Following the completion of the purchase, the director now directly owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 over the last ninety days. 0.22% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares in the last quarter. Capital World Investors raised its holdings in shares of Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after acquiring an additional 10,927,679 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Wells Fargo & Co by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock valued at $2,803,705,000 after acquiring an additional 584,764 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after acquiring an additional 7,445,414 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Wells Fargo & Co by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after acquiring an additional 5,305,125 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

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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.

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

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