Sandler O’Neill Downgrades Wells Fargo & Co to Hold

Brokerage firm Sandler O’Neill Downgrades its rating on Wells Fargo & Co(NYSE:WFC). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Sandler O’Neill was issued on Apr 11, 2016.

In a different note, UBS said it Initiates Coverage on Wells Fargo & Co, according to a research note issued on Mar 24, 2016. The shares have been rated ‘Sell’ by the firm. On Feb 11, 2016, Nomura said it Maintains its rating on Wells Fargo & Co. In the research note, the firm Lowers the price-target to $64.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jan 26, 2016, Deutsche Bank said it Maintains its rating on Wells Fargo & Co. According to the research note, Deutsche Bank Lowers the price target to $59 per share from a prior target of $60. The shares have been rated ‘Buy’ by the firm. On Jan 20, 2016, Susquehanna said it Upgrades its rating on Wells Fargo & Co. The shares have been rated ‘Positive’ by the firm. On Jan 19, 2016, Argus Research said it Maintains its rating on Wells Fargo & Co. According to the research note, Argus Research Lowers the price target to $58 per share from a prior target of $63. The shares have been rated ‘Buy’ by the firm. On Jan 19, 2016, Credit Suisse said it Maintains its rating on Wells Fargo & Co. According to the research note, Credit Suisse Raises the price target to $62 per share from a prior target of $48.82. The shares have been rated ‘Outperform’ by the firm.

Wells Fargo & Co (WFC) shares turned negative on Fridays trading session with the shares closing down -0.54 points or -1.11% at a volume of 2,48,85,233. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.94. The peak price level was also seen at $48.94 while the days lowest was $48.06. Finally the shares closed at $48.25. The 52-week high of the shares is $58.765 while the 52-week low is $44.5. According to the latest information available, the market cap of the company is $244,951 M.

Wells Fargo & Co(WFC) last announced its earnings results on Jan 15, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $21.59B. Analysts had an estimated revenue of $21.83B. Earnings per share were $1.03. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, Lloyd H Dean (director) sold 2,210 shares at $49.93 per share price.Also, 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.

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