Wells Fargo & Company (NYSE:WFC) Shares Sold by CarsonAllaria Wealth Management Ltd.

CarsonAllaria Wealth Management Ltd. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,320 shares of the financial services provider’s stock after selling 340 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Wells Fargo & Company were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. Valued Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WFC shares. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Evercore ISI reissued an “outperform” rating and set a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their price target for the company from $62.00 to $59.00 in a research report on Friday. Thirteen research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $59.63.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.30 during trading hours on Tuesday, reaching $56.15. 12,515,844 shares of the company’s stock traded hands, compared to its average volume of 18,057,482. The firm has a market capitalization of $195.76 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The business’s fifty day simple moving average is $57.63 and its two-hundred day simple moving average is $57.32.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. Analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Wells Fargo & 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.