Franklin Street Advisors Inc. NC Sells 220 Shares of Wells Fargo & Company $WFC

Franklin Street Advisors Inc. NC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,601 shares of the financial services provider’s stock after selling 220 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Wells Fargo & Company were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the period. Strs Ohio acquired a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $109,643,000. Canada Pension Plan Investment Board boosted its holdings in shares of Wells Fargo & Company by 34.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after acquiring an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Wells Fargo & Company by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after acquiring an additional 1,152,181 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.2%

NYSE:WFC opened at $80.63 on Friday. The stock’s fifty day moving average price is $80.77 and its two-hundred day moving average price is $76.28. Wells Fargo & Company has a 52-week low of $55.98 and a 52-week high of $86.65. 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 $258.28 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.24 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 for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on WFC shares. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Evercore ISI boosted their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & 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.