ValuEngine Lowers Wells Fargo & Co (WFC) to Sell

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ValuEngine cut shares of Wells Fargo & Co (NYSE:WFC) from a hold rating to a sell rating in a report issued on Friday, September 28th.

WFC has been the topic of several other research reports. Edward Jones upgraded shares of Wells Fargo & Co from a hold rating to a buy rating in a research note on Monday, September 17th. Zacks Investment Research lowered shares of Wells Fargo & Co from a hold rating to a sell rating in a research note on Tuesday, September 18th. Macquarie dropped their price target on shares of Wells Fargo & Co from $63.00 to $62.00 and set a neutral rating on the stock in a research note on Monday, September 17th. Morgan Stanley upgraded shares of Wells Fargo & Co from an underweight rating to an equal weight rating and increased their price target for the stock from $57.00 to $62.00 in a research note on Monday, July 2nd. Finally, Wolfe Research initiated coverage on shares of Wells Fargo & Co in a research note on Tuesday, September 25th. They set an outperform rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $64.22.

Wells Fargo & Co stock traded up $0.67 during trading hours on Friday, hitting $52.11. The company had a trading volume of 32,045,388 shares, compared to its average volume of 20,470,955. The firm has a market cap of $256.37 billion, a PE ratio of 12.68, a P/E/G ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a fifty-two week low of $50.26 and a fifty-two week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion during the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. Equities analysts anticipate that Wells Fargo & Co will post 4.55 EPS for the current fiscal year.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in WFC. Rothschild Asset Management Inc. grew its position in shares of Wells Fargo & Co by 1.0% during the 2nd quarter. Rothschild Asset Management Inc. now owns 589,885 shares of the financial services provider’s stock worth $32,703,000 after buying an additional 5,584 shares during the period. R. G. Niederhoffer Capital Management Inc. acquired a new stake in shares of Wells Fargo & Co during the 2nd quarter worth approximately $1,308,000. Commonwealth Bank of Australia grew its position in shares of Wells Fargo & Co by 15.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 748,401 shares of the financial services provider’s stock worth $41,434,000 after buying an additional 99,137 shares during the period. Independent Order of Foresters grew its position in shares of Wells Fargo & Co by 20.4% during the 2nd quarter. Independent Order of Foresters now owns 8,330 shares of the financial services provider’s stock worth $462,000 after buying an additional 1,410 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Wells Fargo & Co by 50.4% during the 2nd quarter. Captrust Financial Advisors now owns 33,857 shares of the financial services provider’s stock worth $1,877,000 after buying an additional 11,351 shares during the period. 77.57% of the stock is owned by institutional investors.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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