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Actionable news in WFC: WELLS FARGO & CO.,

Will Wells Fargo (WFC) Stock Be Impacted by Sandler O'Neill's Downgrade?

NEW YORK (TheStreet) -- Wells Fargo & Co. (WFC - Get Report) stock had its rating lowered to "hold" from "buy" at investment banking firm Sandler O'Neill earlier this morning.

Overall, the environment for bank stocks has changed a lot compared to last summer when the firm upgraded Wells Fargo to "buy."

For example, analysts noted that the outlook for the Federal Reserve's pace of tightening has become far more muted (fewer rate hikes expected, but over an even longer time horizon), and the yield curve has become flatter.

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