GYL Financial Synergies LLC Sells 1,478 Shares of Wells Fargo & Company (NYSE:WFC)

GYL Financial Synergies LLC trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,719 shares of the financial services provider’s stock after selling 1,478 shares during the period. GYL Financial Synergies LLC’s holdings in Wells Fargo & Company were worth $340,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter worth $29,000. Valued Wealth Advisors LLC grew its stake in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.67 during mid-day trading on Friday, reaching $56.63. 1,151,147 shares of the stock traded hands, compared to its average volume of 17,912,420. The business has a 50-day moving average of $57.56 and a 200 day moving average of $57.29. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The stock has a market capitalization of $197.43 billion, a PE ratio of 11.50, a PEG ratio of 1.40 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

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, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. 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 note on Monday, July 15th. Morgan Stanley upped their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. BMO Capital Markets upped their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI restated an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.63.

About Wells Fargo & Company

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.