Wells Fargo & Company $WFC Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 48.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,492 shares of the financial services provider’s stock after selling 69,096 shares during the period. Wealthspire Advisors LLC’s holdings in Wells Fargo & Company were worth $5,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Wealth Management Partners LLC lifted its holdings in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares in the last quarter. Verum Partners LLC increased its position in shares of Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its stake in shares of Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 0.7% in the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 131 shares in the last quarter. Finally, Yukon Wealth Management Inc. boosted its holdings in Wells Fargo & Company by 4.3% in the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 132 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. UBS Group cut their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Bank of America boosted their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Citigroup upped their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $83.89 on Wednesday. The company has a market cap of $263.35 billion, a PE ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.22. The company has a fifty day moving average price of $83.86 and a two-hundred day moving average price of $80.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

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.