Wells Fargo & Company (NYSE:WFC) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,546 shares of the financial services provider’s stock after selling 596 shares during the quarter. Annex Advisory Services LLC’s holdings in Wells Fargo & Company were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. John W. Brooker & Co. CPAs grew its stake in shares of Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after buying an additional 171 shares in the last quarter. Prentice Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after buying an additional 184 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Wells Fargo & Company by 13.0% in the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after buying an additional 186 shares in the last quarter. Fortitude Family Office LLC grew its stake in Wells Fargo & Company by 3.4% during the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 193 shares in the last quarter. Finally, Fruth Investment Management grew its stake in Wells Fargo & Company by 3.2% during the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 200 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.40 during mid-day trading on Friday, hitting $52.76. The company had a trading volume of 11,668,975 shares, compared to its average volume of 18,196,924. The stock has a market cap of $183.94 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $58.16 and its two-hundred day simple moving average is $57.04.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 3.03%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI restated an “outperform” rating and set a $67.00 price objective (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Morgan Stanley raised their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.91.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.