Fiduciary Group LLC Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Fiduciary Group LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,524 shares of the financial services provider’s stock after selling 269 shares during the quarter. Fiduciary Group LLC’s holdings in Wells Fargo & Company were worth $1,575,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WFC. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $34,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $34,000. Finally, Valued Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $52.78 on Friday. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a market cap of $179.65 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.27 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $56.60 and a 200 day simple moving average of $57.89.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 3.03%. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Analysts Set New Price Targets

A number of research firms have weighed in on WFC. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Evercore ISI lowered their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Morgan Stanley raised their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Company Profile

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