Brokerage firm JP Morgan Downgrades its rating on Wells Fargo & Co(NYSE:WFC). In a research note issued to the investors, the brokerage major Lowers the price-target to $48.00 per share. The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Sep 21, 2016.
In a different note, On Sep 9, 2016, Rafferty said it Downgrades its rating on Wells Fargo & Co. The shares have been rated ‘Sell’ by the firm. On Jul 18, 2016, Barclays said it Maintains its rating on Wells Fargo & Co. In the research note, the firm Lowers the price-target to $63.00 per share. The shares have been rated ‘Overweight’ by the firm. Berenberg said it Initiates Coverage on Wells Fargo & Co, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Hold’ by the firm. On Jul 7, 2016, Raymond James said it Downgrades its rating on Wells Fargo & Co. The shares have been rated ‘Market Perform’ by the firm.
Wells Fargo & Co (WFC) made into the market gainers list on Tuesdays trading session with the shares advancing 1.20% or 0.55 points. Due to strong positive momentum, the stock ended at $46.56, which is also near the day’s high of $47.2. The stock began the session at $47.15 and the volume stood at 5,15,10,381 shares. The 52-week high of the shares is $56.34 and the 52 week low is $44.5. The company has a current market capitalization of $234,921 M and it has 5,04,55,47,100 shares in outstanding.
Wells Fargo & Co(WFC) last announced its earnings results on Jul 15, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $22.16B. Analysts had an estimated revenue of $22.21B. Earnings per share were $1.01. Analysts had estimated an EPS of $1.01.
Several Insider Transactions has been reported to the SEC. On Aug 9, 2016, Timothy J Sloan (President & COO) sold 20,500 shares at $48.92 per share price.Also, On May 6, 2016, Federico F Pena (director) purchased 85 shares at $49.50 per share price.On May 4, 2016, James H. Quigley (director) purchased 2,000 shares at $49.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.