Keybank National Association OH lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 850,189 shares of the financial services provider’s stock after selling 101,495 shares during the quarter. Keybank National Association OH’s holdings in Wells Fargo & Co were worth $47,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cedar Capital LLC grew its holdings in shares of Wells Fargo & Co by 13.3% during the second quarter. Cedar Capital LLC now owns 7,383 shares of the financial services provider’s stock valued at $409,000 after buying an additional 867 shares during the last quarter. Kessler Investment Group LLC grew its holdings in shares of Wells Fargo & Co by 2.3% during the second quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock valued at $2,144,000 after buying an additional 875 shares during the last quarter. Community Trust & Investment Co. grew its holdings in shares of Wells Fargo & Co by 13.1% during the second quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock valued at $428,000 after buying an additional 894 shares during the last quarter. Copperwynd Financial LLC grew its holdings in shares of Wells Fargo & Co by 15.7% during the second quarter. Copperwynd Financial LLC now owns 6,648 shares of the financial services provider’s stock valued at $369,000 after buying an additional 900 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH grew its holdings in shares of Wells Fargo & Co by 2.8% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 33,937 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 909 shares during the last quarter. Institutional investors own 75.76% of the company’s stock.

WFC opened at $55.00 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a 1-year low of $50.26 and a 1-year high of $66.31. The company has a market capitalization of $279.89 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The business had revenue of $21.55 billion during the quarter, compared to the consensus estimate of $21.52 billion. equities analysts anticipate that Wells Fargo & Co will post 4.56 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were given a $0.43 dividend. The ex-dividend date was Thursday, August 9th. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 3.13%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on WFC shares. Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $57.00 to $62.00 in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price target for the company from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.34.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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