Bronfman E.L. Rothschild L.P. trimmed its holdings in Wells Fargo & Co (NYSE:WFC) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,946 shares of the financial services provider’s stock after selling 3,202 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Wells Fargo & Co were worth $1,993,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HC Financial Advisors Inc. acquired a new position in Wells Fargo & Co in the fourth quarter worth approximately $2,232,000. Salem Investment Counselors Inc. acquired a new position in Wells Fargo & Co in the fourth quarter worth approximately $5,477,000. We Are One Seven LLC acquired a new position in Wells Fargo & Co in the fourth quarter worth approximately $1,249,000. Sawtooth Solutions LLC grew its position in Wells Fargo & Co by 451.9% in the fourth quarter. Sawtooth Solutions LLC now owns 30,869 shares of the financial services provider’s stock worth $1,873,000 after buying an additional 25,276 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Wells Fargo & Co in the fourth quarter worth approximately $234,000. Institutional investors own 75.76% of the company’s stock.
NYSE WFC opened at $55.00 on Friday. Wells Fargo & Co has a twelve month low of $50.26 and a twelve month high of $66.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market cap of $279.89 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.55 and a beta of 1.12.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The firm had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. equities analysts expect that Wells Fargo & Co will post 4.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.13%. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, August 9th. Wells Fargo & Co’s payout ratio is presently 41.85%.
In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Several research analysts have issued reports on WFC shares. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Saturday, July 7th. Morgan Stanley decreased their price target on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. Susquehanna Bancshares set a $63.00 price target on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $63.34.
Wells Fargo & Co Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
Featured Article: Stop Order
Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.