Wells Fargo & Company (NYSE:WFC) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,326 shares of the financial services provider’s stock after selling 1,286 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Wells Fargo & Company were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. 9258 Wealth Management LLC lifted its holdings in Wells Fargo & Company by 4.1% in the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 516 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Wells Fargo & Company by 93.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 12,778 shares during the period. AMG National Trust Bank boosted its holdings in Wells Fargo & Company by 4.5% during the fourth quarter. AMG National Trust Bank now owns 15,803 shares of the financial services provider’s stock worth $778,000 after buying an additional 687 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in Wells Fargo & Company by 9.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 41,265 shares of the financial services provider’s stock worth $2,031,000 after buying an additional 3,623 shares during the period. Finally, Associated Banc Corp increased its holdings in Wells Fargo & Company by 7.2% in the fourth quarter. Associated Banc Corp now owns 50,607 shares of the financial services provider’s stock valued at $2,491,000 after buying an additional 3,419 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Jefferies Financial Group downgraded 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. Evercore ISI dropped 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 boosted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $53.81 on Tuesday. The company has a market cap of $187.60 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.27 and a beta of 1.16. The business has a fifty day simple moving average of $56.49 and a 200-day simple moving average of $57.92. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 15.17% and a return on equity of 12.30%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date 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 dividend yield of 2.97%. Wells Fargo & Company’s payout ratio is currently 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.