Wells Fargo & Company (WFC) Rating Increased to Buy at Vertical Group

Wells Fargo & Company (NYSE:WFC) was upgraded by investment analysts at Vertical Group from a “sell” rating to a “buy” rating in a note issued to investors on Thursday.

Other research analysts have also issued reports about the stock. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 price objective on the stock in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Company in a report on Wednesday, September 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 16th. UBS reissued a “neutral” rating and set a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & Company in a report on Friday, September 15th. Finally, Citigroup reissued a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Wells Fargo & Company in a report on Monday, October 9th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Wells Fargo & Company has an average rating of “Hold” and an average price target of $57.25.

Wells Fargo & Company (WFC) traded up $0.02 during midday trading on Thursday, reaching $58.57. 26,758,300 shares of the company’s stock were exchanged, compared to its average volume of 18,356,119. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $288,315.47, a price-to-earnings ratio of 14.14, a PEG ratio of 1.41 and a beta of 0.96. Wells Fargo & Company has a one year low of $49.27 and a one year high of $59.99.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. research analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current year.

In other Wells Fargo & Company news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction on Thursday, November 30th. The shares were 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 sold 184,482 shares of company stock valued at $10,471,050 over the last 90 days. Insiders own 0.22% of the company’s stock.

Several large investors have recently modified their holdings of WFC. AXA increased its holdings in shares of Wells Fargo & Company by 30.4% in the 3rd quarter. AXA now owns 1,752,761 shares of the financial services provider’s stock worth $96,664,000 after acquiring an additional 408,349 shares during the period. Sage Capital Advisors llc increased its stake in Wells Fargo & Company by 17.0% during the 3rd quarter. Sage Capital Advisors llc now owns 51,173 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 7,435 shares during the period. Chicago Partners Investment Group LLC increased its stake in Wells Fargo & Company by 964.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,149 shares of the financial services provider’s stock valued at $780,000 after buying an additional 12,820 shares during the period. Institutional & Family Asset Management LLC increased its stake in Wells Fargo & Company by 1.1% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 102,873 shares of the financial services provider’s stock valued at $5,673,000 after buying an additional 1,126 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Wells Fargo & Company by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,195,496 shares of the financial services provider’s stock valued at $176,232,000 after buying an additional 11,412 shares during the period. 75.77% of the stock is currently owned by institutional investors.

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About Wells Fargo & Company

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.

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