Wells Fargo & Company (NYSE:WFC) was downgraded by Jefferies Financial Group to Hold

Wells Fargo & Company (NYSE:WFC) was downgraded by investment analysts at Jefferies Financial Group to a “hold” rating in a report issued on Friday. They currently have a $59.00 price objective on the financial services provider’s stock, down from their previous price objective of $62.00. Jefferies Financial Group’s price target indicates a potential upside of 6.63% from the stock’s current price.

WFC has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, 15 July. Morgan Stanley lifted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI restated an “outperform” rating and set a $67.00 price objective (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th . BMO Capital Markets raised their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Thirteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.63, based on data from MarketBeat.

Get the latest analysis on Wells Fargo & Company

Wells Fargo & Company stock performance

Shares of Wells Fargo & Company stock opened at $55.33 on Friday. The company has a market cap of $192.90 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86, and a quick ratio of 0.85. The stock’s 50-day moving average is $57.68 and its 200-day moving average is $57.16.

Wells Fargo & Company (NYSE:WFC – Get Your Free Report ) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. In the same quarter last year, the company earned $1.25 per share. The company’s revenue was up 0.8% compared to the same quarter last year. equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Hedge Funds Influence Wells Fargo & Company

Large investors have recently modified their stock holdings. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company in the 4th quarter valued at $29,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. Finally, Bfsg LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $34,000. 75.90% of shares are owned by institutional investors.

About Wells Fargo & Company

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Wells Fargo & Company, a financial services company, offers diversified banking, investment, mortgage and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Bank; Corporate and Investment Banking; and Wealth and Investment Management.

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