Wells Fargo & Company $WFC Shares Sold by Tobam

Tobam lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 76.7% in the second quarter, HoldingsChannel.com reports. The fund owned 817 shares of the financial services provider’s stock after selling 2,689 shares during the quarter. Tobam’s holdings in Wells Fargo & Company were worth $65,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after acquiring an additional 128,207 shares during the last quarter. Pzena Investment Management LLC increased its position in Wells Fargo & Company by 5.5% during the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after purchasing an additional 542,493 shares in the last quarter. Boston Partners raised its stake in Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after purchasing an additional 523,107 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Wells Fargo & Company by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,508,567 shares of the financial services provider’s stock valued at $601,586,000 after purchasing an additional 172,250 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.0%

Shares of Wells Fargo & Company stock opened at $86.21 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $88.64. The stock has a market cap of $270.60 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a fifty day moving average price of $83.53 and a 200 day moving average price of $79.72.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping 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 return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFC. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Bank of America lifted their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.57.

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.