Wells Fargo & Company $WFC Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 538,701 shares of the financial services provider’s stock after selling 92,642 shares during the period. Wells Fargo & Company accounts for approximately 3.5% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 14th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Company were worth $43,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Capstone Financial Advisors Inc. raised its stake in Wells Fargo & Company by 3.5% during the second quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider’s stock valued at $277,000 after buying an additional 113 shares during the last quarter. MFA Wealth Services grew its stake in shares of Wells Fargo & Company by 0.7% in the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 115 shares during the last quarter. Hidden Cove Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 1.8% in the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 124 shares during the last quarter. Five Oceans Advisors grew its stake in shares of Wells Fargo & Company by 3.6% in the second quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 125 shares during the last quarter. Finally, Pines Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 1.5% during the second quarter. Pines Wealth Management LLC now owns 8,650 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $82.72 on Wednesday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a 50-day moving average of $84.43 and a 200 day moving average of $83.87. The company has a market capitalization of $250.14 billion, a price-to-earnings ratio of 11.67 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 EPS. On average, equities analysts predict that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a $0.50 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s payout ratio is currently 28.21%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WFC shares. Citigroup lowered their price target on Wells Fargo & Company from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. The Goldman Sachs Group set a $94.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, October 13th. Bank of America increased their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. UBS Group reduced their price objective on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, TD Cowen initiated coverage on shares of Wells Fargo & Company in a report on Thursday, October 8th. They set a “buy” rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $98.08.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.