Vetr upgraded shares of Wells Fargo & Co. (NYSE:WFC) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning. Vetr currently has $46.56 price objective on the financial services provider’s stock.

WFC has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded Wells Fargo & Co. from an overweight rating to a neutral rating and lowered their price target for the company from $53.50 to $48.00 in a research report on Wednesday, September 21st. Macquarie reissued an underperform rating on shares of Wells Fargo & Co. in a research report on Tuesday, October 18th. Keefe, Bruyette & Woods reissued an outperform rating and set a $57.00 price target on shares of Wells Fargo & Co. in a research report on Friday, September 9th. Argus reissued a buy rating on shares of Wells Fargo & Co. in a research report on Thursday, October 13th. Finally, Citigroup Inc. downgraded Wells Fargo & Co. to an underperform rating in a research report on Friday, November 18th. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $49.57.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 51.58 on Monday. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.24. The firm has a market cap of $259.05 billion, a price-to-earnings ratio of 12.80 and a beta of 0.93. The stock’s 50 day moving average price is $47.82 and its 200 day moving average price is $47.86.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The firm earned $22.30 billion during the quarter. During the same period last year, the firm posted $1.05 EPS. Wells Fargo & Co.’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Co. will post $4.03 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Wells Fargo & Co. (WFC) Upgraded by Vetr Inc. to Sell” was posted by Financial Market News and is owned by of Financial Market News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The correct version of this report can be read at http://www.financial-market-news.com/wells-fargo-co-wfc-upgraded-by-vetr-inc-to-sell/1208099/.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 2nd. Wells Fargo & Co.’s dividend payout ratio is presently 37.44%.

Hedge funds have recently added to or reduced their stakes in the stock. FFT Wealth Management LLC acquired a new stake in Wells Fargo & Co. during the first quarter worth about $242,000. LGL Partners LLC raised its stake in Wells Fargo & Co. by 39.4% in the first quarter. LGL Partners LLC now owns 11,866 shares of the financial services provider’s stock worth $574,000 after buying an additional 3,351 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in Wells Fargo & Co. by 6.6% in the first quarter. EFG Asset Management Americas Corp. now owns 83,700 shares of the financial services provider’s stock worth $4,088,000 after buying an additional 5,203 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Wells Fargo & Co. by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 1,287,002 shares of the financial services provider’s stock worth $62,239,000 after buying an additional 4,493 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Wells Fargo & Co. by 2.1% in the first quarter. Legal & General Group Plc now owns 22,729,888 shares of the financial services provider’s stock worth $1,099,251,000 after buying an additional 457,687 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

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.

5 Day Chart for NYSE:WFC

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

Receive News & Ratings for Wells Fargo & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co. and related companies with MarketBeat.com's FREE daily email newsletter.