Wells Fargo & Company (NYSE:WFC) Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,510 shares of the financial services provider’s stock after selling 690 shares during the period. Clarkston Capital Partners LLC’s holdings in Wells Fargo & Company were worth $219,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WFC. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter valued at about $1,566,470,000. Capital World Investors boosted its stake in Wells Fargo & Company by 37.4% during the fourth quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock valued at $1,485,787,000 after buying an additional 8,421,820 shares in the last quarter. Ardevora Asset Management LLP bought a new position in Wells Fargo & Company during the first quarter valued at about $117,767,000. Voleon Capital Management LP bought a new position in Wells Fargo & Company during the fourth quarter valued at about $83,965,000. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Wells Fargo & Company by 128.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,586,155 shares of the financial services provider’s stock valued at $124,085,000 after purchasing an additional 1,452,365 shares during the period. 74.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Credit Suisse Group decreased their price target on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, July 18th. Morgan Stanley increased their price objective on Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Barclays reduced their price objective on Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Jefferies Financial Group reduced their price objective on Wells Fargo & Company from $55.00 to $47.00 in a research note on Monday, July 11th. Finally, Citigroup reduced their price objective on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Wells Fargo & Company Stock Down 1.3 %

Shares of WFC stock opened at $43.19 on Tuesday. The stock’s 50 day simple moving average is $41.45 and its 200 day simple moving average is $46.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30. The company has a market capitalization of $163.82 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.07 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company had revenue of $17.03 billion during the quarter, compared to the consensus estimate of $17.54 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.78%.

About Wells Fargo & Company

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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