Foundations Investment Advisors LLC Sells 8,742 Shares of Wells Fargo & Company (NYSE:WFC)

Foundations Investment Advisors LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 30.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,304 shares of the financial services provider’s stock after selling 8,742 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WFC. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $34,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Wells Fargo & Company by 180.4% in the 4th quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WFC shares. Keefe, Bruyette & Woods lowered 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 report on Monday, July 15th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday. Finally, BMO Capital Markets upped their price objective 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. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.41.

Wells Fargo & Company Trading Down 2.2 %

Shares of WFC opened at $56.86 on Friday. The firm has a market capitalization of $198.23 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.43 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 1-year low of $38.38 and a 1-year high of $62.55. The company has a 50-day moving average of $57.42 and a 200 day moving average of $57.87.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Wells Fargo & Company’s dividend payout ratio is presently 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.