Wells Fargo & Co (WFC) Upgraded at Atlantic Securities

Atlantic Securities upgraded shares of Wells Fargo & Co (NYSE:WFC) from an underweight rating to a neutral rating in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has $64.00 price objective on the financial services provider’s stock.

WFC has been the topic of several other reports. Goldman Sachs Group reissued a buy rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Vetr raised shares of Wells Fargo & Co from a sell rating to a hold rating and set a $54.49 price target on the stock in a research note on Tuesday, October 24th. Vertical Group began coverage on shares of Wells Fargo & Co in a research note on Friday, October 6th. They set a sell rating on the stock. Credit Suisse Group reissued a hold rating and set a $57.00 price target on shares of Wells Fargo & Co in a research note on Tuesday, October 10th. Finally, UBS Group set a $55.00 price target on shares of Wells Fargo & Co and gave the company a hold rating in a research note on Monday, October 16th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Wells Fargo & Co has an average rating of Hold and a consensus price target of $61.02.

Wells Fargo & Co (WFC) traded down $0.45 on Wednesday, hitting $62.55. 25,890,000 shares of the stock traded hands, compared to its average volume of 20,510,000. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $63.67. 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 capitalization of $308,240.00, a PE ratio of 16.16, a P/E/G ratio of 1.66 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period last year, the company earned $0.96 earnings per share. Wells Fargo & Co’s revenue for the quarter was up 2.2% compared to the same quarter last year. sell-side analysts anticipate that Wells Fargo & Co will post 3.98 EPS for the current fiscal year.

In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The stock was 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. Over the last ninety days, insiders sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC raised its holdings in Wells Fargo & Co by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Winch Advisory Services LLC raised its holdings in shares of Wells Fargo & Co by 0.7% during the second quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 20 shares during the period. Jackson Grant Investment Advisers Inc. raised its holdings in shares of Wells Fargo & Co by 0.5% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 26 shares during the period. Financial Advisory Group raised its holdings in shares of Wells Fargo & Co by 0.7% during the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 35 shares during the period. Finally, Financial Advisory Service Inc. raised its holdings in shares of Wells Fargo & Co by 0.6% during the second quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 42 shares during the period. 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.

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

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