Wells Fargo & Company (NYSE:WFC) Position Trimmed by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,100 shares of the financial services provider’s stock after selling 200 shares during the period. Cascade Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $853,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its position 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 worth $37,000 after purchasing an additional 220 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. 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. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 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, September 3rd. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $55.30 on Thursday. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The business’s 50 day moving average is $55.52 and its two-hundred day moving average is $57.78. The company has a market cap of $192.79 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.32 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.

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 (EPS) for the quarter, topping 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 company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period last year, the business posted $1.25 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect 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. Shareholders of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.