Wells Fargo & Company (NYSE:WFC) Shares Sold by STAR Financial Bank

STAR Financial Bank lessened its position in Wells Fargo & Company (NYSE:WFC) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 7,839 shares of the financial services provider’s stock after selling 418 shares during the quarter. STAR Financial Bank’s holdings in Wells Fargo & Company were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. Capital World Investors increased its position in Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after acquiring an additional 263,176 shares during the period. Sanders Capital LLC raised its stake in Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after acquiring an additional 781,772 shares in the last quarter. California State Teachers Retirement System boosted its position in Wells Fargo & Company by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after acquiring an additional 25,896 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WFC. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI lowered their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised 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. Finally, BMO Capital Markets increased their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Twelve 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Trading Down 1.2 %

Shares of WFC opened at $53.95 on Wednesday. The business’s 50-day moving average price is $57.05 and its 200 day moving average price is $57.97. 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 stock has a market capitalization of $188.09 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. 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. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

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.