Revolve Wealth Partners LLC Trims Stake in Wells Fargo & Company $WFC

Revolve Wealth Partners LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 2.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,617 shares of the financial services provider’s stock after selling 134 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $27,000. Motco lifted its stake in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter valued at approximately $29,000. Finally, 1248 Management LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. UBS Group reduced their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI increased their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.41.

Wells Fargo & Company Trading Up 1.7%

WFC stock opened at $78.92 on Tuesday. The company has a market cap of $252.80 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.25 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. The business has a fifty day simple moving average of $80.66 and a 200-day simple moving average of $76.61. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is currently 30.82%.

About Wells Fargo & Company

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.