Wells Fargo & Co (WFC) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 20, 2016.
Many Wall Street Analysts have commented on Wells Fargo & Co. Robert W. Baird Upgraded Wells Fargo & Co on Sep 19, 2016 to ” Outperform”, Price Target of the shares are set at $50.Shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Outperform” and Lowered the Price Target to $ 54 from a previous price target of $57 .Berenberg Initiated Wells Fargo & Co on Jul 13, 2016 to “Hold”, Price Target of the shares are set at $45.
On the company’s financial health, Wells Fargo & Co reported $1.01 EPS for the quarter, based on the information available during the earnings call on Jul 15, 2016. Analyst had a consensus estimate of $1.01. The company had revenue of $22162.00 million for the quarter, compared to analysts expectations of $22091.72 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Wells Fargo & Co closed down -0.72 points or -1.56% at $45.43 with 51,871,380 shares getting traded on Friday. Post opening the session at $45.7, the shares hit an intraday low of $45.25 and an intraday high of $45.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 9, 2016, Timothy J Sloan (President & COO) sold 20,500 shares at $48.92 per share price. According to the SEC, 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.