More from Dividend.com
Referenced Stocks

Wells Fargo Downgraded to “Hold” at Stifel Nicolaus; Lower Interest Margins to Hamper Bottom Line (WFC)

By Dividend.com,  September 17, 2012, 08:33:32 AM EDT

Banking giant Wells Fargo & Company ( WFC ) on monday received a big downgrade from analysts at Stifel Nicolaus.

The firm cut its rating on WFC from "Buy" to "Hold," citing lower expected net interest margins as a result of the Federal Reserve's QE3 announcement last week.

Accordingly, Stifel Nicolaus also lowered its earnings estimates for the company.

Wells Fargo shares fell 33 cents, or -0.9%, in premarket trading Monday.

The Bottom Line
Shares of Wells Fargo ( WFC ) have a 2.42% dividend yield, based on Friday's closing stock price of $36.13. The stock has technical support in the $32-$34 price area. If the shares can firm up, we see overhead resistance around the $37.50-$40 price levels.

Wells Fargo & Company ( WFC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: WFC



Latest News Video

Park Ravaged by Hurricane Sandy Reopens in Time For Memorial Day
Park Ravaged by Hurricane Sandy Reo...
Fardon Tapped For U.S. Attorney, Goes to Senate Confirmation
Fardon Tapped For U.S. Attorney, Go...
Father Of Ibragim Todashev Shares Regrets
Father Of Ibragim Todashev Shares R...
Senate Rejects GMO Labeling Bill
Senate Rejects GMO Labeling Bill    


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.21 0.10  0.75%
HPQ $ 24.86 3.63  17.10%
SIRI $ 3.545 0.01  0.28%
MU $ 11.39 0.47  4.30%
MSFT $ 34.15 0.46  1.33%
F $ 14.81 0.16  1.07%
QQQ $ 73.45 0.17  0.23%
GE $ 23.66 0.20  0.84%