Wells Fargo & Company (NYSE:WFC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,304 shares of the financial services provider’s stock after selling 871 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Wells Fargo & Company were worth $874,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WFC. People s United Financial Inc. raised its position in shares of Wells Fargo & Company by 2.8% in the fourth quarter. People s United Financial Inc. now owns 19,035 shares of the financial services provider’s stock valued at $913,000 after buying an additional 525 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Wells Fargo & Company by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 13,274 shares of the financial services provider’s stock valued at $637,000 after buying an additional 903 shares during the last quarter. LPL Financial LLC raised its position in shares of Wells Fargo & Company by 9.3% in the fourth quarter. LPL Financial LLC now owns 1,588,600 shares of the financial services provider’s stock valued at $76,221,000 after buying an additional 135,553 shares during the last quarter. Freestone Capital Holdings LLC grew its holdings in Wells Fargo & Company by 2.6% in the fourth quarter. Freestone Capital Holdings LLC now owns 186,186 shares of the financial services provider’s stock valued at $8,933,000 after purchasing an additional 4,740 shares during the period. Finally, Ulysses Management LLC grew its holdings in Wells Fargo & Company by 25.0% in the fourth quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock valued at $2,399,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 72.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WFC shares. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 18th. Credit Suisse Group lowered their target price on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 18th. Citigroup lowered their target price on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. Piper Sandler set a $48.00 target price on shares of Wells Fargo & Company in a report on Monday, June 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.97.

Wells Fargo & Company Trading Down 1.8 %

WFC opened at $41.52 on Friday. The stock has a market capitalization of $157.49 billion, a PE ratio of 9.96, a P/E/G ratio of 1.04 and a beta of 1.16. The firm’s fifty day moving average price is $43.88 and its 200 day moving average price is $44.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $17.03 billion during the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company’s revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio is 28.78%.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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