Wells Fargo & Co (WFC) is Downgraded by Piper Jaffray to Underweight

Wells Fargo & Co (WFC) was Downgraded by Piper Jaffray to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 15, 2016.

Many Wall Street Analysts have commented on Wells Fargo & Co. Wells Fargo & Co was Downgraded by Sandler O’Neill to ” Hold” on Apr 11, 2016. Wells Fargo & Co was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016. UBS Initiated Wells Fargo & Co on Mar 24, 2016 to “Sell”, Price Target of the shares are set at $45.

On the company’s financial health, Wells Fargo & Co reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.98. The company had revenue of $22195.00 million for the quarter, compared to analysts expectations of $21524.59 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Wells Fargo & Co closed down -0.04 points or -0.08% at $47.03 with 1,51,13,542 shares getting traded on Monday. Post opening the session at $47.11, the shares hit an intraday low of $47 and an intraday high of $47.71 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 14, 2016, Lloyd H Dean (director) sold 2,210 shares at $49.93 per share price. According to the SEC, on Mar 11, 2016, Timothy J Sloan (President & COO) sold 10,000 shares at $48.16 per share price. On Dec 11, 2015, John G Stumpf (Chairman & CEO) sold 30,000 shares at $53.72 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.

Wells Fargo & Co

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