Lafayette Investments Inc. Sells 600 Shares of Wells Fargo & Company $WFC

Lafayette Investments Inc. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,795 shares of the financial services provider’s stock after selling 600 shares during the quarter. Lafayette Investments Inc.’s holdings in Wells Fargo & Company were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. GAMMA Investing LLC lifted its position in shares of Wells Fargo & Company by 11.3% during the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after buying an additional 4,786 shares in the last quarter. Advisor Resource Council bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $326,000. First Bancorp Inc ME grew its stake in shares of Wells Fargo & Company by 5.6% during the 1st quarter. First Bancorp Inc ME now owns 8,470 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 450 shares during the period. Finally, M3 Advisory Group LLC increased its holdings in Wells Fargo & Company by 3.3% in the 1st quarter. M3 Advisory Group LLC now owns 6,352 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 200 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the topic of several analyst reports. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group cut their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

View Our Latest Stock Analysis on WFC

Wells Fargo & Company Price Performance

NYSE:WFC opened at $85.97 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $275.39 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47. The business’s 50-day moving average is $81.38 and its 200 day moving average is $77.19.

Wells Fargo & Company Increases Dividend

The company also recently announced 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. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wells Fargo & Company Company Profile

(Free Report)

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.

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

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