Wells Fargo & Company (NYSE:WFC) Shares Sold by MCF Advisors LLC

MCF Advisors LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,701 shares of the financial services provider’s stock after selling 224 shares during the quarter. MCF Advisors LLC’s holdings in Wells Fargo & Company were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $34,000. Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of Wells Fargo & Company by 180.4% in the fourth quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock valued at $35,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 research report on Tuesday, July 30th. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $56.86 on Friday. The firm has a fifty day moving average of $57.42 and a two-hundred day moving average of $57.87. The firm has a market cap of $198.23 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio 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.