Cypress Wealth Advisors LLC Lowers Stake in Wells Fargo & Company (WFC)

Cypress Wealth Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 42.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,308 shares of the financial services provider’s stock after selling 7,582 shares during the period. Cypress Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $571,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rockland Trust Co. boosted its position in shares of Wells Fargo & Company by 0.6% in the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after purchasing an additional 1,856 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in Wells Fargo & Company by 3.9% during the second quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock worth $15,102,000 after acquiring an additional 10,318 shares in the last quarter. Kelman Lazarov Inc. lifted its holdings in Wells Fargo & Company by 6.0% during the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock worth $3,556,000 after acquiring an additional 3,612 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Wells Fargo & Company by 4.7% during the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock worth $5,722,000 after acquiring an additional 4,647 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in Wells Fargo & Company by 1.8% during the second quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock worth $6,628,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

WFC has been the topic of several recent analyst reports. Vetr lowered Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $54.49 target price on the stock. in a report on Thursday, November 2nd. UBS reiterated a “neutral” rating and set a $56.00 target price (down from $59.00) on shares of Wells Fargo & Company in a report on Friday, September 15th. Zacks Investment Research upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 target price (down from $52.00) on shares of Wells Fargo & Company in a report on Wednesday, September 13th. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 target price on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.25.

Wells Fargo & Company (NYSE:WFC) traded up $1.46 during trading hours on Wednesday, hitting $60.33. The company had a trading volume of 25,040,400 shares, compared to its average volume of 18,450,271. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $289,891.22, a P/E ratio of 14.22, a P/E/G ratio of 1.42 and a beta of 0.96. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $60.56.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo & Company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. research analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio is currently 40.31%.

In related news, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Company stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is owned by company insiders.

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Wells Fargo & Company 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.

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

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