Gilbert & Cook Inc. Decreases Stake in Wells Fargo & Company $WFC

Gilbert & Cook Inc. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,848 shares of the financial services provider’s stock after selling 2,380 shares during the quarter. Gilbert & Cook Inc.’s holdings in Wells Fargo & Company were worth $1,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $27,000. Motco lifted its position in Wells Fargo & Company by 397.6% during the first 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. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on WFC shares. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 1.4%

NYSE WFC opened at $87.19 on Friday. The firm’s 50-day moving average is $82.75 and its two-hundred day moving average is $78.59. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $279.30 billion, a P/E ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.42 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

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.