Peoples Bank KS Sells 480 Shares of Wells Fargo & Company (NYSE:WFC)

Peoples Bank KS trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,909 shares of the financial services provider’s stock after selling 480 shares during the period. Wells Fargo & Company comprises about 1.7% of Peoples Bank KS’s investment portfolio, making the stock its 12th biggest position. Peoples Bank KS’s holdings in Wells Fargo & Company were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the second quarter worth $26,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WFC. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods dropped their target price on 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. Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $60.41.

Wells Fargo & Company Trading Up 3.6 %

Shares of WFC traded up $1.98 during trading hours on Friday, hitting $56.96. 14,582,228 shares of the stock traded hands, compared to its average volume of 18,007,127. The business has a fifty day moving average of $55.43 and a 200-day moving average of $57.76. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $198.58 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (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 company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up .8% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 yield of 2.81%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

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.