Wells Fargo & Company $WFC Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its position in Wells Fargo & Company (NYSE:WFC) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,881 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Mission Wealth Management LP’s holdings in Wells Fargo & Company were worth $6,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter valued at approximately $29,000. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 227 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. TD Cowen upped their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Price Performance

Shares of WFC opened at $87.19 on Friday. The company has a market cap of $279.30 billion, a P/E ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25. The stock has a fifty day moving average price of $82.75 and a 200 day moving average price of $78.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

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.