Centennial Bank AR Sells 295 Shares of Wells Fargo & Company (NYSE:WFC)

Centennial Bank AR reduced its position in Wells Fargo & Company (NYSE:WFC) by 7.4% during the second quarter, Holdings Channel.com reports. The firm owned 3,694 shares of the financial services provider’s stock after selling 295 shares during the quarter. Centennial Bank AR’s holdings in Wells Fargo & Company were worth $219,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. John W. Brooker & Co. CPAs grew its holdings in Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the period. McAdam LLC lifted its stake in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after buying an additional 178 shares in the last quarter. Prentice Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares in the last quarter. Clearstead Trust LLC lifted its stake in shares of Wells Fargo & Company by 13.0% in the first 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 in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Wells Fargo & Company by 3.4% in the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after buying an additional 193 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.9 %

WFC opened at $55.42 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a market capitalization of $193.21 billion, a PE ratio of 11.38, a PEG ratio of 1.32 and a beta of 1.16. The firm’s 50 day simple moving average is $55.60 and its two-hundred day simple moving average is $57.79.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities 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. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods dropped 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 research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve research 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.