Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $334,000 Stock Position in Wells Fargo & Company $WFC

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Wells Fargo & Company (NYSE:WFC) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,168 shares of the financial services provider’s stock after selling 216 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Wells Fargo & Company were worth $334,000 at the end of the most recent quarter.

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

Wells Fargo & Company Price Performance

NYSE WFC opened at $84.35 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $270.22 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. The company has a 50 day moving average price of $81.71 and a two-hundred day moving average price of $77.44. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The firm 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 company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. As a group, equities 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WFC shares. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. UBS Group decreased their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

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.