Wells Fargo WFC shares are trading lower on Thursday, after Morgan Stanley maintained an Equal-Weight rating on the stock and lowered its price target from $29 to $27.
Wells Fargo is one of the largest banks in the U.S., with approximately $1.9 trillion in balance sheet assets. The company is split into three segments for reporting purposes: community banking; wholesale banking; and wealth and investment management.
Wells Fargo shares were trading down 5.96% at $27.94 on Thursday. The stock has a 52-week high of $54.75 and a 52-week low of $22.
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