Courier Capital LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,400 shares of the financial services provider’s stock after selling 3,546 shares during the quarter. Courier Capital LLC’s holdings in Wells Fargo & Company were worth $425,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in shares of Wells Fargo & Company by 490.9% during the third quarter. Capital Advisors Ltd. LLC now owns 1,034 shares of the financial services provider’s stock worth $87,000 after buying an additional 859 shares during the last quarter. Hoover Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the second quarter worth $37,000. Watson Rebecca acquired a new position in shares of Wells Fargo & Company during the second quarter worth $37,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Wells Fargo & Company by 41.4% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,867 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 547 shares during the period. Finally, Pacifica Partners Inc. lifted its holdings in shares of Wells Fargo & Company by 27.0% during the third quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 400 shares during the period. 67.25% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on the stock. Odeon Capital Group upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating in a report on Wednesday, September 2nd. ValuEngine lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Atlantic Securities upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $28.00 to $30.00 in a report on Wednesday, July 22nd. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and boosted their target price for the company from $31.00 to $34.00 in a report on Monday, September 14th. Finally, Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $31.07.
NYSE:WFC opened at $24.77 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. The business has a fifty day simple moving average of $23.29 and a two-hundred day simple moving average of $25.03. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $54.75. The company has a market capitalization of $102.95 billion, a P/E ratio of 66.05, a P/E/G ratio of 4.84 and a beta of 1.07.
Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The firm had revenue of $18.86 billion during the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 0.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, November 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 9.13%.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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