Wells Fargo & Company $WFC Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 29,602 shares of the financial services provider’s stock after selling 3,821 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Wells Fargo & Company were worth $2,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Motco lifted its holdings in Wells Fargo & Company by 397.6% in the first 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. Accent Capital Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at approximately $29,000. 1248 Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at approximately $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.3%

Shares of NYSE WFC opened at $81.46 on Friday. The firm has a market cap of $260.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.26 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 52-week low of $51.75 and a 52-week high of $84.83. The business’s 50 day moving average is $80.38 and its two-hundred day moving average is $75.16.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Truist Financial boosted their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.56.

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.