GFS Advisors LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,317 shares of the financial services provider’s stock after selling 1,100 shares during the period. GFS Advisors LLC’s holdings in Wells Fargo & were worth $1,458,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Delphi Private Advisors LLC increased its position in Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the period. Brick & Kyle Associates increased its position in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC acquired a new position in Wells Fargo & during the 2nd quarter worth approximately $104,000. Clear Investment Research LLC acquired a new position in Wells Fargo & during the 2nd quarter worth approximately $121,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Wells Fargo & during the 1st quarter worth approximately $124,000. 75.86% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company (NYSE:WFC) opened at $54.04 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market capitalization of $266,300.00, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 0.97. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $59.99.
Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.
Several research firms have issued reports on WFC. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Wells Fargo & in a research report on Wednesday. Vetr cut Wells Fargo & from a “hold” rating to a “sell” rating and set a $53.07 target price on the stock. in a research report on Monday, October 2nd. Instinet reiterated a “buy” rating and set a $65.00 target price (up previously from $64.00) on shares of Wells Fargo & in a research report on Saturday, September 30th. Nomura boosted their target price on Wells Fargo & from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Finally, BMO Capital Markets upgraded Wells Fargo & from an “underperform” rating to a “market perform” rating and lowered their price target for the stock from $50.00 to $47.00 in a report on Monday, July 31st. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.20.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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