InvesTrust Sells 63,657 Shares of Wells Fargo & Company $WFC

InvesTrust lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 60.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,372 shares of the financial services provider’s stock after selling 63,657 shares during the period. Wells Fargo & Company makes up 1.3% of InvesTrust’s investment portfolio, making the stock its 26th largest position. InvesTrust’s holdings in Wells Fargo & Company were worth $3,395,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Kera Capital Partners Inc. bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $236,000. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Wells Fargo & Company during the 1st quarter valued at $9,070,000. Swedbank AB boosted its holdings in shares of Wells Fargo & Company by 3.8% during the 1st quarter. Swedbank AB now owns 783,197 shares of the financial services provider’s stock valued at $56,226,000 after buying an additional 28,665 shares in the last quarter. Compass Financial Services Inc boosted its holdings in shares of Wells Fargo & Company by 51.9% during the 1st quarter. Compass Financial Services Inc now owns 2,527 shares of the financial services provider’s stock valued at $181,000 after buying an additional 863 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in shares of Wells Fargo & Company during the 1st quarter valued at $31,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $81.46 on Friday. The stock has a 50-day moving average price of $80.38 and a 200-day moving average price of $75.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $260.95 billion, a PE ratio of 13.95, a P/E/G ratio of 1.26 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $51.75 and a 1 year high of $84.83.

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 the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This is a positive change 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 yield of 2.2%. Wells Fargo & Company’s payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WFC shares. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.56.

About Wells Fargo & Company

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.