Wells Fargo & Company (WFC) Shares Sold by Geneva Advisors LLC
Geneva Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,110 shares of the financial services provider’s stock after selling 1,853 shares during the period. Geneva Advisors LLC’s holdings in Wells Fargo & were worth $1,835,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of WFC. Delphi Private Advisors LLC increased its position in Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Wells Fargo & during the 2nd quarter valued at about $104,000. Clear Investment Research LLC acquired a new position in Wells Fargo & during the 2nd quarter valued at about $121,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Wells Fargo & during the 1st quarter valued at about $124,000. 75.86% of the stock is owned by institutional investors and hedge funds.
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WFC has been the subject of a number of analyst reports. Vetr upgraded Wells Fargo & to a “strong-buy” rating in a research note on Thursday, September 7th. Berenberg Bank downgraded Wells Fargo & from a “hold” rating to a “sell” rating and lifted their price target for the company from $35.00 to $45.00 in a research note on Friday, July 21st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, August 16th. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a research note on Tuesday, September 5th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.20.
Wells Fargo & Company (WFC) opened at $53.72 on Tuesday. The firm has a market cap of $264,974.47, a price-to-earnings ratio of 13.00, a PEG ratio of 1.29 and a beta of 0.97. Wells Fargo & Company has a 1-year low of $49.27 and a 1-year high of $59.99. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. research analysts expect that Wells Fargo & Company will post 3.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a $0.39 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.90%. Wells Fargo &’s payout ratio is currently 40.31%.
Wells Fargo & Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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