Wells Fargo & Company $WFC Shares Sold by White Pine Capital LLC

White Pine Capital LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,932 shares of the financial services provider’s stock after selling 676 shares during the quarter. Wells Fargo & Company makes up about 1.1% of White Pine Capital LLC’s holdings, making the stock its 18th largest position. White Pine Capital LLC’s holdings in Wells Fargo & Company were worth $3,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hillsdale Investment Management Inc. increased its position in Wells Fargo & Company by 32.7% during the second quarter. Hillsdale Investment Management Inc. now owns 5,312 shares of the financial services provider’s stock worth $426,000 after buying an additional 1,310 shares during the period. Seeds Investor LLC boosted its holdings in shares of Wells Fargo & Company by 16.5% in the second quarter. Seeds Investor LLC now owns 4,385 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 620 shares during the period. Ames National Corp grew its position in shares of Wells Fargo & Company by 255.2% during the second quarter. Ames National Corp now owns 11,135 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 8,000 shares during the last quarter. Power Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 17.2% in the 2nd quarter. Power Wealth Management LLC now owns 4,031 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 593 shares during the period. Finally, DNB Asset Management AS increased its holdings in shares of Wells Fargo & Company by 4.1% in the 2nd quarter. DNB Asset Management AS now owns 609,947 shares of the financial services provider’s stock valued at $48,869,000 after acquiring an additional 24,220 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. UBS Group decreased their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Finally, TD Cowen lifted their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Trading Down 2.0%

NYSE WFC opened at $82.47 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 capitalization of $258.88 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The firm has a 50-day moving average price of $83.96 and a 200 day moving average price of $80.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS 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 $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 29.61%.

About Wells Fargo & Company

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.