Wells Fargo & Company (NYSE:WFC) Shares Sold by First Personal Financial Services

First Personal Financial Services lowered its position in Wells Fargo & Company (NYSE:WFC) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,933 shares of the financial services provider’s stock after selling 361 shares during the quarter. First Personal Financial Services’ holdings in Wells Fargo & Company were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $34,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $34,000. Finally, VisionPoint Advisory Group LLC increased its stake in shares of Wells Fargo & Company by 180.4% in the fourth quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock worth $35,000 after buying an additional 460 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on WFC shares. Evercore ISI reiterated an “outperform” rating and set a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Morgan Stanley upped their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and decreased their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, BMO Capital Markets upped their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Thirteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.63.

Wells Fargo & Company Price Performance

WFC stock traded up $1.12 during trading on Friday, hitting $58.47. The company had a trading volume of 20,068,054 shares, compared to its average volume of 17,823,389. The firm has a market capitalization of $203.84 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.40 and a beta of 1.17. 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 business has a 50 day moving average of $57.39 and a 200 day moving average of $57.59. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be given a dividend of $0.40 per share. The ex-dividend date is 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 dividend yield of 2.74%. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Wells Fargo & 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.