SYSTM Wealth Solutions LLC Trims Holdings in Wells Fargo & Company (NYSE:WFC)

SYSTM Wealth Solutions LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 84.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,874 shares of the financial services provider’s stock after selling 26,859 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Wells Fargo & Company were worth $289,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WFC. John W. Brooker & Co. CPAs raised its stake in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares in the last quarter. McAdam LLC increased its holdings in Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after buying an additional 178 shares during the last quarter. Prentice Wealth Management LLC raised its stake in Wells Fargo & Company by 2.0% during 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 lifted its holdings in Wells Fargo & Company by 13.0% during the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after buying an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in shares of Wells Fargo & Company by 3.4% in the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 193 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. 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 research report on Tuesday, September 3rd. Morgan Stanley raised 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. Evercore ISI lowered their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Keefe, Bruyette & Woods cut their target price 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. Finally, The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $54.26 on Thursday. The firm has a market capitalization of $189.17 billion, a PE ratio of 11.14, a P/E/G ratio of 1.27 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $56.28 and a 200 day moving average price of $57.89. 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 posted its quarterly earnings data 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 net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.