Wells Fargo & Company $WFC Shares Sold by Petros Family Wealth LLC

Petros Family Wealth LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,754 shares of the financial services provider’s stock after selling 1,098 shares during the period. Petros Family Wealth LLC’s holdings in Wells Fargo & Company were worth $461,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC lifted its stake in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Vest Financial LLC lifted its stake in Wells Fargo & Company by 73.5% during the 1st quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider’s stock worth $1,957,000 after acquiring an additional 11,547 shares in the last quarter. Signal Advisors Wealth LLC lifted its stake in Wells Fargo & Company by 19.3% during the 1st quarter. Signal Advisors Wealth LLC now owns 5,871 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 950 shares in the last quarter. Procyon Advisors LLC raised its position in Wells Fargo & Company by 2.8% in the 1st quarter. Procyon Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 184 shares in the last quarter. Finally, Impact Capital Partners LLC raised its position in Wells Fargo & Company by 6.8% in the 1st quarter. Impact Capital Partners LLC now owns 3,968 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 252 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $87.00 to $90.00 in a research report on Monday, September 29th. Evercore ISI increased their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Finally, Citigroup increased their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Trading Up 0.2%

WFC opened at $80.63 on Monday. Wells Fargo & Company has a one year low of $55.98 and a one year high of $86.65. The company has a market cap of $258.28 billion, a P/E ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50-day simple moving average is $80.77 and its 200-day simple moving average is $76.33.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.