Trading Report: Today, Wells Fargo & Co. (WFC) Cut to “Hold” at Vetr Inc.

Today, Wells Fargo & Co. (WFC) Cut to “Hold” at Vetr Inc.

Vetr lowered shares of Wells Fargo & Co. (NYSE:WFC) from a buy rating to a hold rating in a research note released on Tuesday. They currently have $44.75 price target on the financial services provider’s stock.

Several other research analysts also recently weighed in on WFC. Zacks Investment Research downgraded Wells Fargo & Co. from a hold rating to a sell rating in a report on Wednesday, June 15th. Deutsche Bank AG restated a buy rating on shares of Wells Fargo & Co. in a report on Wednesday, June 15th. Argus restated a buy rating and set a $58.00 price objective on shares of Wells Fargo & Co. in a report on Monday, June 27th. Jefferies Group restated a buy rating and set a $53.00 price objective on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Finally, Raymond James Financial Inc. restated a market perform rating on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $50.41.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.18 on Tuesday. The firm’s 50-day moving average price is $47.29 and its 200-day moving average price is $48.24. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34. The stock has a market capitalization of $227.96 billion, a P/E ratio of 11.16 and a beta of 0.91.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The company earned $22.20 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

In other news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bremer Trust National Association boosted its stake in Wells Fargo & Co. by 1.8% in the third quarter. Bremer Trust National Association now owns 111,093 shares of the financial services provider’s stock worth $4,919,000 after buying an additional 1,960 shares during the period. Triangle Securities Wealth Management boosted its stake in shares of Wells Fargo & Co. by 2.4% in the third quarter. Triangle Securities Wealth Management now owns 47,638 shares of the financial services provider’s stock valued at $2,109,000 after buying an additional 1,103 shares during the last quarter. Independence Advisors LLC purchased a new stake in shares of Wells Fargo & Co. during the third quarter valued at approximately $240,000. Liberty Capital Management Inc. boosted its stake in shares of Wells Fargo & Co. by 20.7% in the third quarter. Liberty Capital Management Inc. now owns 34,156 shares of the financial services provider’s stock valued at $1,495,000 after buying an additional 5,855 shares during the last quarter. Finally, Monarch Capital Management Inc. boosted its stake in shares of Wells Fargo & Co. by 5.1% in the third quarter. Monarch Capital Management Inc. now owns 78,835 shares of the financial services provider’s stock valued at $3,491,000 after buying an additional 3,810 shares during the last quarter. 73.98% of the stock is currently owned by institutional investors.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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