Wells Fargo & Company $WFC Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP reduced its position in Wells Fargo & Company (NYSE:WFC) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,881 shares of the financial services provider’s stock after selling 1,500 shares during the period. Mission Wealth Management LP’s holdings in Wells Fargo & Company were worth $6,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WFC. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% in the 4th 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 in the last quarter. Silver Oak Securities Incorporated acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $215,000. GF Fund Management CO. LTD. lifted its stake in shares of Wells Fargo & Company by 213.8% in the 1st quarter. GF Fund Management CO. LTD. now owns 18,999 shares of the financial services provider’s stock valued at $1,364,000 after purchasing an additional 12,944 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $244,000. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Wells Fargo & Company by 45.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 2,106 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 655 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. UBS Group lowered their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. TD Cowen increased their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Bank of America increased their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $87.19 on Friday. The business’s 50 day moving average is $82.75 and its two-hundred day moving average is $78.59. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The firm has a market cap of $279.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period in the prior year, the company posted $1.42 EPS. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wells Fargo & 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.