Wells Fargo & Company $WFC Shares Sold by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,839 shares of the financial services provider’s stock after selling 2,153 shares during the period. YHB Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $2,391,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter valued at about $29,000. Motco raised its position in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares in the last quarter. Nova Wealth Management Inc. lifted its stake in shares of Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 227 shares during the period. Finally, 1248 Management LLC bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Morgan Stanley increased their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Evercore ISI reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.56.

Wells Fargo & Company Stock Up 1.2%

Shares of NYSE:WFC opened at $83.51 on Friday. The firm has a 50 day simple moving average of $80.40 and a 200 day simple moving average of $75.30. Wells Fargo & Company has a 52 week low of $53.31 and a 52 week high of $84.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $267.51 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

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.