Gryphon Financial Partners LLC Has $859,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Gryphon Financial Partners LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 18.5% during the 2nd quarter, Holdings Channel reports. The firm owned 14,461 shares of the financial services provider’s stock after selling 3,289 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Wells Fargo & Company were worth $859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. 9258 Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 4.1% in the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 516 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Wells Fargo & Company by 9.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 170,410 shares of the financial services provider’s stock worth $8,388,000 after buying an additional 15,126 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Wells Fargo & Company by 11.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 124,265 shares of the financial services provider’s stock worth $6,116,000 after buying an additional 12,614 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Wells Fargo & Company by 2.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,847,713 shares of the financial services provider’s stock worth $90,944,000 after buying an additional 51,521 shares in the last quarter. Finally, Pacific Global Investment Management Co. lifted its position in Wells Fargo & Company by 13.4% during the 4th quarter. Pacific Global Investment Management Co. now owns 13,680 shares of the financial services provider’s stock worth $673,000 after buying an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $56.59 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $192.62 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company’s 50 day moving average price is $57.19 and its two-hundred day moving average price is $57.97. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI reduced their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods reduced their price target on shares of 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. Finally, Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.29.

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.