Wells Fargo & Company $WFC Shares Sold by West Branch Capital LLC

West Branch Capital LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,485 shares of the financial services provider’s stock after selling 6,919 shares during the period. West Branch Capital LLC’s holdings in Wells Fargo & Company were worth $1,858,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC raised its stake in shares of Wells Fargo & Company by 6.1% in the 2nd quarter. Rise Advisors LLC now owns 3,591 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 207 shares during the period. Fiduciary Financial Group LLC increased its holdings in Wells Fargo & Company by 3.7% during the 2nd quarter. Fiduciary Financial Group LLC now owns 13,903 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 494 shares during the last quarter. Generali Investments Management Co LLC increased its stake in shares of Wells Fargo & Company by 14.8% in the second quarter. Generali Investments Management Co LLC now owns 6,713 shares of the financial services provider’s stock worth $555,000 after buying an additional 863 shares during the last quarter. Spinnaker Investment Group LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $230,000. Finally, Financial Management Professionals Inc. raised its stake in Wells Fargo & Company by 38.2% during the second quarter. Financial Management Professionals Inc. now owns 2,119 shares of the financial services provider’s stock valued at $175,000 after buying an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of research reports. Barclays dropped their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Bank of America lifted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Down 0.1%

Wells Fargo & Company stock opened at $87.42 on Wednesday. The firm has a market cap of $264.35 billion, a PE ratio of 12.71, a P/E/G ratio of 0.95 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $85.26 and its two-hundred day moving average price is $83.04.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.