Wells Fargo & Company $WFC Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,420 shares of the financial services provider’s stock after selling 10,555 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Wells Fargo & Company were worth $27,738,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Miller Capital Partners Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company during the fourth quarter worth about $28,000. Finally, Phillip James Consulting Co. purchased a new position in Wells Fargo & Company during the first quarter worth about $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WFC. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, April 1st. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.39 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $264.37 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.94 and a beta of 0.92. The stock has a 50-day moving average of $82.72 and a two-hundred day moving average of $83.51. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 26.16%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.