Mesirow Financial Investment Management Inc. Sells 19,268 Shares of Wells Fargo & Company $WFC

Mesirow Financial Investment Management Inc. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 52.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,796 shares of the financial services provider’s stock after selling 19,268 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Wells Fargo & Company were worth $1,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accretive Wealth Partners LLC bought a new stake in shares of Wells Fargo & Company during the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new stake in Wells Fargo & Company in the 1st quarter worth about $408,000. Three Bridge Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 2nd quarter worth about $364,000. Finally, Allianz SE grew its position in Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WFC shares. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. TD Cowen upped their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Barclays upped their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Truist Financial upped their price objective on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Up 1.4%

WFC opened at $87.19 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market cap of $279.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company’s 50-day moving average price is $82.75 and its two-hundred day moving average price is $78.49.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.