Wells Fargo & Company (NYSE:WFC) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,295 shares of the financial services provider’s stock after selling 29,061 shares during the period. Wells Fargo & Company accounts for approximately 0.7% of Dana Investment Advisors Inc.’s portfolio, making the stock its 26th largest position. Dana Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $21,635,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WFC. New Wave Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $414,000. Founders Financial Alliance LLC raised its position in shares of Wells Fargo & Company by 5.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 7,350 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 378 shares in the last quarter. 3Chopt Investment Partners LLC lifted its stake in Wells Fargo & Company by 2.4% during the second quarter. 3Chopt Investment Partners LLC now owns 45,991 shares of the financial services provider’s stock worth $2,731,000 after purchasing an additional 1,065 shares during the last quarter. Advisory Alpha LLC boosted its holdings in Wells Fargo & Company by 5.2% in the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 270 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 40.0% in the second quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock valued at $10,648,000 after purchasing an additional 51,234 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $56.47 on Tuesday. The stock has a fifty day moving average price of $55.69 and a 200 day moving average price of $57.81. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $196.87 billion, a PE ratio of 11.60, a P/E/G ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion during 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%. Wells Fargo & Company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on WFC. BMO Capital Markets boosted their price objective 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 cut 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 note on Friday, September 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods cut their target price 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. Finally, Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and decreased 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.24.

Wells Fargo & Company 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.