Wade G W & Inc. cut its stake in Wells Fargo & Company (NYSE:WFC) by 96.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,282 shares of the financial services provider’s stock after selling 250,041 shares during the period. Wade G W & Inc.’s holdings in Wells Fargo & Company were worth $218,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Watson Rebecca purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $37,000. Hoover Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $37,000. Pacifica Partners Inc. grew its position in Wells Fargo & Company by 27.0% in the third quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 400 shares during the period. Provident Wealth Management LLC bought a new stake in Wells Fargo & Company in the third quarter valued at $45,000. Finally, CVA Family Office LLC grew its position in Wells Fargo & Company by 100.0% in the third quarter. CVA Family Office LLC now owns 2,000 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 67.25% of the company’s stock.
NYSE WFC opened at $24.44 on Tuesday. The company has a market cap of $102.95 billion, a PE ratio of 67.30, a PEG ratio of 4.84 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a 12 month low of $20.76 and a 12 month high of $54.75. The stock has a 50 day moving average of $23.29 and a 200-day moving average of $25.03.
Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $18.86 billion during the quarter, compared to analyst estimates of $17.87 billion. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 5th. Wells Fargo & Company’s dividend payout ratio is currently 9.13%.
A number of analysts have weighed in on WFC shares. UBS Group upgraded Wells Fargo & Company from a “sell” rating to a “neutral” rating and upped their price target for the company from $21.00 to $24.00 in a research report on Friday, September 11th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and upped their price target for the company from $31.00 to $34.00 in a research report on Monday, September 14th. Atlantic Securities upgraded Wells Fargo & Company from an “underweight” rating to a “neutral” rating and upped their price target for the company from $28.00 to $30.00 in a research report on Wednesday, July 22nd. Compass Point upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Friday, November 6th. Finally, Royal Bank of Canada reiterated a “sell” rating and issued a $25.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.07.
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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