Ropes Wealth Advisors LLC lessened its holdings in Wells Fargo & Co (NYSE:WFC) by 31.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,396 shares of the financial services provider’s stock after selling 11,590 shares during the period. Ropes Wealth Advisors LLC’s holdings in Wells Fargo & Co were worth $1,408,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WFC. HC Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Co in the 4th quarter valued at about $2,232,000. Checchi Capital Advisers LLC increased its holdings in shares of Wells Fargo & Co by 2.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 44,038 shares of the financial services provider’s stock valued at $2,308,000 after purchasing an additional 1,066 shares in the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Wells Fargo & Co by 61.8% in the 1st quarter. Shepherd Financial Partners LLC now owns 5,465 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 2,087 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Wells Fargo & Co by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,563,159 shares of the financial services provider’s stock valued at $710,845,000 after purchasing an additional 79,887 shares in the last quarter. Finally, Westpac Banking Corp increased its holdings in shares of Wells Fargo & Co by 3.8% in the 1st quarter. Westpac Banking Corp now owns 538,841 shares of the financial services provider’s stock valued at $28,241,000 after purchasing an additional 19,580 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

A number of equities analysts have recently issued reports on WFC shares. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Morgan Stanley cut their price target on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Susquehanna Bancshares set a $63.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Finally, Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.28.

NYSE:WFC opened at $54.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a twelve month low of $50.26 and a twelve month high of $66.31. The stock has a market cap of $270.96 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The business had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. research analysts forecast that Wells Fargo & Co will post 4.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were issued a dividend of $0.43 per share. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.85%.

Wells Fargo & Co 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.

Further Reading: How Do Tariffs Affect Trade Balances?

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.