Comerica Bank trimmed its stake in shares of Wells Fargo & Co (NYSE:WFC) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,324,045 shares of the financial services provider’s stock after selling 13,381 shares during the period. Wells Fargo & Co comprises about 0.5% of Comerica Bank’s holdings, making the stock its 24th biggest holding. Comerica Bank’s holdings in Wells Fargo & Co were worth $74,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Coyle Financial Counsel LLC acquired a new position in Wells Fargo & Co during the first quarter valued at $101,000. Delpha Capital Management LLC acquired a new position in Wells Fargo & Co during the fourth quarter valued at $103,000. Santori & Peters Inc. acquired a new position in Wells Fargo & Co during the fourth quarter valued at $110,000. Lipe & Dalton acquired a new position in Wells Fargo & Co during the fourth quarter valued at $164,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Wells Fargo & Co during the first quarter valued at $177,000. 76.39% of the stock is owned by institutional investors and hedge funds.

Shares of WFC stock opened at $59.03 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $66.31. The stock has a market capitalization of $283.15 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.57 and a beta of 1.13.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Friday, August 10th will be given a $0.43 dividend. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio is presently 41.85%.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,567 shares of company stock worth $8,721,299. Insiders own 0.09% of the company’s stock.

Several research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods raised Wells Fargo & Co to a “buy” rating in a research report on Monday, April 30th. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Saturday, July 7th. Morgan Stanley dropped their price target on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. Susquehanna Bancshares set a $58.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, April 23rd. Finally, Macquarie raised Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research report on Monday, April 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $63.34.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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